According to the data, the Bitcoin price showed a sudden decline in the last minutes from around $ 70,000 to the 69,000 region. There was a drop of more than 1% in about half an hour.
While the reason for the decline remains unclear, il Capo, one of the most well-known cryptocurrency analysts, commented on the decline in his statement. The analyst described this decline as a shake-up and said that he expected the bull to continue.
However, he added that the $69,000 level should hold. The analyst expects a climb to the $74,000 to $76,000 region if the bull scenario continues.
On the other hand, when the liquidation data is examined, it is observed that there was a liquidation of approximately 20 million dollars due to the high volatility in the last hour. $19 million of these were in long positions.
In his other statement today, il Capo evaluated this week's cryptocurrency agenda and said that the week did not have very interesting events specifically for cryptocurrencies. However, he argued that the ETH/BTC parity looks strong, while many Altcoin/BTC parities have reached local bottoms. According to the analyst, as long as the Bitcoin price is above $60,000, the situation looks positive for altcoins.
*This is not investment advice.