Bitcoin

<ul class="news-points"> 
 <li>Bitcoin price crashes 7.4% to $58K amid leverage flushing and miner selling.</li> 
 <li>Analyst Willy Woo highlights that Bitcoin is nearing a potential reversal on daily candles.</li> 
 <li>Yet, he warns of further crash to $54K as leveraged positions abound.</li> 
</ul> 
Bitcoin analyst Willy Woo, known for his long-term market outlook, has broken his usual silence on short-term predictions to address the recent 7.4% crash in Bitcoin’s price, attributing it to a combination of leverage flushing and miner capitulation. 
In the most recent X post (formerly Twitter), the analyst offered an in-depth analysis of the current volatile state of the Bitcoin market, notably the attributed drop from its intraday high of $63,292 to retest the low of $58,601.&nbsp; 
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 I don't usually do short time frame price action as it's the domain of gamblers. But worth a break down of what's happening given the fear in the market… We've been flushing out the leverage, 62.5k was the target to get most of it. Until… <a href="https://t.co/ughwSKGYoo" target="_blank" rel="nofollow">https://t.co/ughwSKGYoo</a>— Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1805358677391495222?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">June 24, 2024</a>
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The analyst explained that the market is experiencing a process of leverage flushing, with billions of dollars in long positions being liquidated. …
The post <a href="https://coinedition.com/bitcoin-analyst-warns-of-further-price-decline-amid-market-volatility/">Bitcoin Analyst Warns of Further Price Decline Amid Market Volatility</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Analyst Warns of Further Price Decline Amid Market Volatility

Coin Edition

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