Bitcoin, the world's largest cryptocurrency, dropped below $60,000, according to the latest data.
Thus, the price fell below $ 60,000 for the first time since the beginning of May, when it jumped from $ 58,364.
The reason for this movement of BTC price is the sunken Mt. It is shown that the BTCs stolen from the Gox cryptocurrency exchange will be returned to creditors.
Il Capo, one of the most well-known analysts in the cryptocurrency world, published a warm statement following the latest development. According to the analyst, BTC failed to regain its target level of $65,000 and fell back to its previous liquidity zone between $58,000 and $60,000.
According to the analyst, altcoins made a successful stop in this decline of BTC in the lower time frame. il Capo believes that this region is an important support area. In addition, he claims that a local bottom formation is imminent and a rebound is only a matter of time.
The analyst continued his statement by announcing that he purchased more artificial intelligence (AI) and real-world presence (RWA) themed altcoins in response to recent developments. However, he added that he would publish more analysis tomorrow.
*This is not investment advice.