Bitcoin falls below $ 25,000 at 3-month low, what's next?

Bitcoin falls below $ 25,000 at 3-month low, what's next?

The Bitcoin Prize fell to $ 24,820 in early Asian trade on Thursday morning. This is the lowest price at which the asset has been traded three months ago since March 16.

The BTC Prize was reduced by a thousand dollars in less than an hour, which led to a daily loss of 3.6 %.

At the time of writing this article, BTC had recovered and just noted at around $ 25,000, but still looked pessimistic.

Bitcoin bear back in the saddle

The Bitcoin slump follows the announcement of the US Federal Reserve to have suspended interest rate increases in June. It is the first time that it has been stopped after ten consecutive interest rate increases since March 2022.

BTC has now broken out of its tension canal and has been in a gradual downward trend since mid -April. There is a certain support at the current level, but another decline is likely.

The long -term charts also look increasingly pessimistic, with some analysts predicting an upcoming "summer doldrums".

It looks like the summer doldrums #btc 14. June 2023

On the derivative side, according to "Bleeding Crypto", there are liquidations in billions at lower levels, so that a decline compared to the current BTC price level could lead to a quick break-in of the markets. On June 15th he

"There are liquidations worth $ 63.9 billion at $ 24,200 and $ 52.3 billion at $ 21,800, but they want to convince their bull maxia that" everything is fine "and" We are about to go higher ".

😱 with a combination of falls #Krypto Prices and increasing concerns with regard to #Binance & #Coinbase The mood of the dealers has been officially on the most negative stand since #Covid In March 2020 the markets crashed. These situations often occur before #Buythedip https://t.co/eirozskmyw 14. June 2023

elsewhere on cryptoma markets

The entire market capitalization has dropped by 3.6 % to $ 1.06 trillion over the day because almost $ 40 billion left the markets.

As usual, it meets Ethereum and the rest of the old coins much harder than their big brother. At the time of writing, ETH fell 5.5 % to $ 1,648 that day. The asset is now being acted again at the level of resistance from February, which has now transformed into support.

Altcoins suffered an even greater break-in, with daily losses between 4 % and 7 % in most highly capitalized crypto assets.

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