Bitcoin

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<ul class="news-points">
 <li>Bitcoin fell below the $61,000 price level after failing to retain $63,000.</li>
 <li>The Bitcoin market saw liquidations worth $36 million in 24 hours.</li>
 <li>Broader crypto market turns bearish with Ether witnessing $33 million in liquidations.</li>
</ul>
Bears seized control of the Bitcoin market in the past 24 hours, pushing the leading digital asset below the $61,000 mark. BTC failed to hold the $63,000 support level and plunged over 3%, dragging other cryptocurrencies down with it.&nbsp;
Data reveals that the <a href="https://www.coinglass.com/LiquidationData?/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin market suffered</a> over $36 million in liquidations in the last 24 hours, with $33 million in long positions and $3.67 million in short positions wiped out. According to CoinMarketCap, Bitcoin’s trading volume rose 1.63%, reaching around $22 billion.
BTC has been on a steady decline since the start of June. At the time of writing, Bitcoin is 17.39% below its all-time high of $73,000, achieved in March 2024.
This downturn coincides with the <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener noreferrer nofollow">German government’s transfer</a> of 832.7 Bitcoin in four separate transactions on July 2nd, raising concerns that the government <a href="https://coinedition.com/germany-dumps-bitcoin-xrp-community-dreams-big-whats-the-connection/" rel="noopener noreferrer nofollow">might be offloading</a> its BTC holdings. The Fea…
The post <a href="https://coinedition.com/bitcoins-tumble-sparks-market-fear-is-this-a-buying-opportunity-or-further-downside/" rel="noopener noreferrer nofollow">Bitcoin’s Tumble Sparks Market Fear: Is This a Buying Opportunity or Further Downside?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin’s Tumble Sparks Market Fear: Is This a Buying Opportunity or Further Downside?

Coin Edition

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