Bitcoin

Drops

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr"><a href="https://u.today/42-billion-volume-boom-triggers-epic-bitcoin-btc-price-resilience" rel="noopener noreferrer nofollow">Bitcoin's</a> plunge toward $57,000 was the last thing expected after the catastrophic drop below $65,000. However, it has become a reality, and the market will have to act one way or another. Here are three potential outcomes if Bitcoin breaks below the crucial $57,000 level.</p>
<h2 dir="ltr" id="200-ema-being-invalidated-as-support">200 EMA being invalidated as support&nbsp;</h2>
<p dir="ltr">The 200 EMA will no longer be valid as a support level if Bitcoin falls below $57,000. The 200 EMA&nbsp;has acted as a key technical indicator to evaluate the general trend. If Bitcoin were to lose this support, it would enter bearish territory and might even worsen the sell-off. As traders and investors lose faith in Bitcoin's capacity to sustain above crucial support levels, this could result in a further drop in its <a href="https://u.today/rich-dad-poor-dad-author-waits-to-buy-more-bitcoin-rough-times-ahead" rel="noopener noreferrer nofollow">price</a>.</p> <img alt="BTCUSD" data-entity-type="file" data-entity-uuid="4ed0041b-a05c-4988-8bdc-f433f502ef17" src="https://u.today/sites/default/files/inline-images/image_934.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">Bitcoin/USDT Chart by TradingView</a>
<h2 dir="ltr" id="more-liquidations">More liquidations</h2>
<p dir="ltr">A lot of buyers may try to catch the knife and purchase Bitcoin at what they perceive to be a low price around the $56,000 mark. There may be more liquidations, though, if Bitcoin is unable to maintain this level. An additional sell order may be executed as a result of buyers' stop-loss orders being triggered, further lowering the price. It may be more difficult for the price of <a href="https://u.today/xrp-becomes-most-stable-asset-on-crypto-market-unexpected-hit-bitcoin-btc-loses-65000-reversal" rel="noopener noreferrer nofollow">Bitcoin</a> to stabilize if there is more selling pressure, which would accelerate the decline.&nbsp;</p>
<h2 dir="ltr" id="possible-selling-and-stalemate">Possible selling and stalemate</h2>
<p dir="ltr">Due to a lack of liquidity, some institutional selling operations may come to an end if Bitcoin drops below $57,000. As buyers and sellers await more favorable conditions, this scenario could result in a sideways market, where <a href="https://u.today/xrp-becomes-most-stable-asset-on-crypto-market-unexpected-hit-bitcoin-btc-loses-65000-reversal" rel="noopener noreferrer nofollow">Bitcoin</a> trades between $55,000 and $60,000. On the other hand, Bitcoin may fall as low as $50,000 if institutions keep selling.</p>
<p dir="ltr">Bitcoin's price is greatly influenced by the actions of institutional investors, who hold a substantial portion of the market. It may be difficult for Bitcoin to recover in the near term if the sell-off continues, as this could result in an extended bear market.</p>

If Bitcoin (BTC) Drops Below $57,000, These 3 Things Will Happen

Зміст

U_Today

Інші статті, опубліковані 25 черв. 2024 р.

$8.5 Billion Bitcoin Release by Mt. Gox May Not Shock Market

Filecoin Announces GetBlock’s Support for Its Native Token

Metaplanet Establishes Bitcoin-Focused Subsidiary in British Virgin Islands

Bitcoin Plunges to $60K: Is Now the Perfect Time to Buy?

UAE Central Bank Releases Official Payment Token (Stablecoin) Services Regulation

Ethereum ETF Launch Could Lead to 30% Price Drop or ETH ATH to $22,000

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!