Ethereum

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-major-resistance" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Major Resistance</a><br></p>
<p style="text-align: justify">Bitcoin attempted to breach the crucial $70,000 support level last night but encountered significant resistance, resulting in a sharp pullback of over $2,000 within an hour. This downward movement caused a substantial $80 billion loss in the total cryptocurrency market value, affecting various altcoins.</p>
<h2 id="bitcoin-s-drop-creates-ripple-effect">Bitcoin’s Drop Creates Ripple Effect</h2>
<p style="text-align: justify">The futures market saw a surge in liquidated positions, reaching approximately $170 million daily. Despite a positive start on June 10, Bitcoin’s price dynamics were lackluster over the weekend. The asset briefly traded at $70,000 against psychological resistance but quickly reversed course, dropping to $67,500, its lowest level since June 3. The market capitalization fell to $1.335 trillion, according to CoinGecko data.</p>
<p style="text-align: justify">As Bitcoin faltered, bearish forces prevented any decisive gains. The rapid price drop resulted in substantial market losses, underscoring the volatility and unpredictability of the cryptocurrency market.</p>
<h2 id="what-s-happening-in-the-crypto-market">What’s Happening in the Crypto Market?</h2>
<p style="text-align: justify">Altcoin projects were not spared from the downturn. Ethereum, for instance, fell by 3.5% to $3,560. Other popular altcoins like SOL, DOGE, TON, SHIB, and LINK also experienced similar declines. <a href="https://en.bitcoinhaber.net/binances-bnb-struggles-amid-regulatory-pressure-how-will-the-crypto-market-react" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance Coin</a>, which had performed well the previous week, plummeted by more than 7% within the last 24 hours, falling below $620.</p>
<p style="text-align: justify">Recent projects such as NOT, W, JSMY, and BRETT saw even steeper declines, ranging from 10% to 19%. The total value of liquidated positions in the futures market reached up to $170 million daily, impacting over 75,000 <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>.</p>
<h2 id="concrete-takeaways-for-investors">Concrete Takeaways for Investors</h2>
<p style="text-align: justify">– Bitcoin faced significant resistance at $70,000 and dropped over $2,000 within an hour.<br> – Altcoins, including Ethereum and Binance Coin, experienced notable declines.<br> – The futures market saw $170 million in liquidated positions, affecting over 75,000 investors.<br> – Ethereum had the largest liquidation position, exceeding $6.5 million through Binance.</p>
<p style="text-align: justify">The recent market downturn highlights the inherent risks and volatility within the cryptocurrency <a href="https://newslinker.co/category/science/space/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">space</a>, urging investors to proceed with caution.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-major-resistance" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Major Resistance</a></h5>

Bitcoin Faces Major Resistance

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