After the live broadcast organized by RoaringKitty, the biggest influencer of GameStop shares, was followed by approximately half a million people and broadcast live on channels such as CNBC in the USA, there was a huge decline in the stock and the cryptocurrency market.
GameStop shares are closely linked to memecoins in the cryptocurrency world, and the depreciation of GameStop shares led to a massive bearish wave among memecoins. This triggered the decline in all other cryptocurrencies, including Bitcoin.
At the time of writing this article, Bitcoin price is at 69,034 with a decrease of approximately 3% in the last hour.
Il Capo, one of the most well-known analysts in the cryptocurrency world, announced his latest opinions after the decline. In his statement, il Capo said that there was a strong sales wave in the support area.
The analyst argued that altcoins in particular were losing blood, but despite this, this was seen as a “shake-up”. According to the analyst, the bullish process may continue if the current support levels hold.
il Capo determined the first support level for BTC as around $69,000 and the second as around $67,000. On the Ethereum side, he described the level below approximately $ 3,600 as “not good”.
The analyst claimed that there was also a clear support level test for Solana.
*This is not investment advice.