Bitcoin

<ul>
 <li>Bitcoin dropped 17% from its all-time high of $73,750 to $61,164.</li>
 <li>Bitcoin ETFs faced the largest three-day outflow since their January 11 launch.</li>
</ul>
Despite recent favorable movements in the crypto market, Bitcoin (BTC) investors encountered hurdles as the leading cryptocurrency struggled to breach the key resistance level of $68,000. However, following a <a href="https://thenewscrypto.com/bitcoin-btc-down-8-in-a-week-is-this-the-reason/" target="_blank" rel="noopener noreferrer nofollow">brief dip</a> to $61,164 on March 20th, Bitcoin managed to recover, maintaining a position above the $66,000 to $67,300 range.
Bitcoin’s resilience in its recent price movements was evident, although it faced considerable resistance upon approaching the $68,000 mark. This led to a temporary dip before rebounding.&nbsp;
The current BTC/USD pair’s trading patterns suggest a <a href="https://thenewscrypto.com/jpmorgan-warns-of-bitcoins-overbought-status-ahead-of-halving/" target="_blank" rel="noopener noreferrer nofollow">short-term downward trend</a> or a positive consolidation, with the $67,500 level emerging as a significant obstacle to initiating a new bullish wave.
<h3 class="wp-block-heading" id="h-bitcoin-s-recent-price-movements">Bitcoin’s Recent Price Movements</h3>
Today, Bitcoin surged above $65,500, briefly surpassing $66,000 and $67,500. However, selling pressure around the $68,000 level hindered further ascent. Presently, Bitcoin is trading at $66,417, although still below the 100-hour simple moving average, as <a href="https://thenewscrypto.com/bitcoin-btc-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">bullish momentum</a> is being sustained at a key technical retracement level.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="512" src="https://thenewscrypto.com/wp-content/uploads/2024/03/image-160-1024x512.png" alt="" class="wp-image-94382" srcset="https://thenewscrypto.com/wp-content/uploads/2024/03/image-160-1024x512.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-160-300x150.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-160-768x384.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-160.png 1302w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Bitcoin (BTC) Price Chart (Source: <a href="https://in.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
According to the hourly chart, if the trend continues and BTC encounters an entry above the $67,000 mark, it will trigger more rallies. A decisive move above $67,800 could provide the necessary push to overcome the $68,500 barrier, potentially setting the stage for a move toward $70,000.
Conversely, if Bitcoin finds substantial support at $64,500, a further decline possibly leads to significant support levels at $63,000. There’s a risk of a downward trend towards $61,500, potentially reaching a support zone near $60,000.&nbsp;

Bitcoin Struggles to Break $68,000, Should Investors Worry?

Table of Contents

TheNewsCrypto

Other articles published on Mar 22, 2024

Many Pepe & DOGE Investors See Pushd as E-Commerce’s Future; Eying for 20X Gains

Bitcoin Price Reclaims $66,000 Despite 4-Day ETF Outflow Streak

Crypto Traders Anticipate Market Shifts as Open Interest Peaks

ChatGPT’s Bull Run Favorites: Top Cryptos to Watch

Global Chatbot Craze: Bhutan Leads in ChatGPT Adoption

Must-Buy Cryptos for March 2024: Investor’s Checklist

Join our free newsletter for daily crypto updates!