Crypto NewsBitcoinBitcoin Price Sudden 2 Percent Drop: What is the Latest Situation in...

Bitcoin Price Sudden 2 Percent Drop: What is the Latest Situation in the Market? Analysts Commented!

Bitcoin (BTC) price abruptly lost about 2 percent while continuing to follow a partial sideways course.

Follow Bitcoin Sistemi Google News Button

While the world’s largest cryptocurrency Bitcoin was hovering around $28,000, it fell to $27,270 with a sudden drop of about 2%.

There is no definite information about the cause of the decline yet.

15-minute candlestick chart showing the recent spike in BTC price.

However, analyst Michaël van de Poppe evaluated the price of Bitcoin after the recent drop.

Michaël van de Poppe warned that BTC is losing important support levels. He pointed out that despite this, open interest in Bitcoin continues to rise.

Van de Poppe noted that Bitcoin has lost important support levels and $29,200, $28,700 and $27,700 are all invalid.

He added that the next potential area for a bounce move is between $26,600-$26,900 and $28,700, with no real interest points expected between them.

However, another analyst, Solid, also evaluated the situation. In the analysis he shared, Solid pointed out that although the BTC price fell, the funding rates increased, and evaluated the situation as follows:

“With every small drop the longs are liquidated, but unfortunately they continue to try to catch the falling blade and open new leverage positions, but the price continues to drop.

It means only one thing, sales are made on the spot.”

*Not investment advice.

Buradaki Yorumlardan Bildirim Al

Inline Feedbacks
View all comments

Popular Posts of the Week

Market Value