Support Levels Are Unbearable! What Will Happen To BTC?


The price of Bitcoin initially remained above $66,000 for several days and even tried to break through the $67,000 price level on several occasions without success. The subsequent rejection brought a bigger fall and worried the buyers and traders who . This is because the amount of liquidity in the daily scale has jumped to more than $200 million.

Altcoins have also suffered the same fate in this regard and most have declined more than bitcoin.

Last week, it hurt more for the major cryptocurrency as the asset plunged below $60,000 on two separate occasions amid ongoing tensions between Iran and Israel. At the moment, the market is worried that the big decline in the value of the BTC price is about to repeat itself. Most recently it traded at $63,000.

As for the altcoins, a more painful decline was seen from Solana (-8%), Toncoin (-9%), Dogecoin (-10%), Avalanche (-10%), Shiba Inu (-8%), and others- others also according to the same rhythm.

Therefore, it is not surprising that almost 100,000 traders have been in the market in the last day, most of them related to long positions. Total liquidity in the daily scale is above $210 million on CoinGlass.