Bitcoin Falls Below $60,000 – Market Correction Not Over
Bitcoin (BTC), like most of the cryptocurrency market, saw a price correction today.
Amid fears of a sell-off by users of the failed crypto exchange Mt. Gox , who soon start receiving their benefits, the panic in the market is palpable. The German government's wallet, which holds over $2.6 billion in crypto, appears to have begun to transfer its tokens, adding to the bearish outlook.
Bitcoin it briefly fell below $60,000, but at the time of writing it recovered to the price of $60,350 with a 4.2% drop in the last 24 hours and a trading volume of $25.7 billion. BTC's market cap now stands at $1.18 trillion.
TradingView's 14-day technical analysis shows an extremely pessimistic picture – the summary points to “sell” with 12 signals, the moving averages show “strong sell” with 2 signals and the oscillators with XNUMX signals.
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Bitcoin price warning in the near termEthereum also saw a significant drop of 4.4% in the last 12.65 hours with a trading volume of $3,295 billion and is trading at $XNUMX.
The market's total market capitalization fell 3.78% to $2.23 trillion.
For the last 24 hours $163.79 million was liquidated from the cryptocurrency market ($142.23 million in longs and $21.56 million in shorts)
The biggest loser was Bittsensor, which fell 13.6 to $235 after the message for a recent hack.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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