Leading cryptocurrency Bitcoin (BTC) After climbing up to the level of $ 46,000, it was pulled back to the $ 40,000 support with a sharp decline.
This unexpected pullback of the BTC price coincided with the macro-economic developments, and this is largely seen as the reason. So, is the fall in BTC completely over?
$26,000 Alert in BTC!
For the first time since mid-March 40,000 BTC, which was withdrawn to the dollar level, according to leading experts for $26,000 can be pulled up.
This chart, which Bloomberg describes as a “bear hug”, predicts a drop to $26,000 with a major breakout.
Speaking to Bloomberg, Jeffrey Halley emphasizes that $26,000 can be seen with the loss of the $36,000 support.
If BTC holds at $40,000 and completes the weekly close at $42,000, $47,500 could be tested. According to Halley, the situation is currently moving more bearish than bull and it is useful to be careful in BTC.
On the other hand, according to the information conveyed by Coinglass, 439 million dollars of crypto money became liquid in just 24 hours.
88% of the long positions were completely wiped out and the bears officially took over.
The US Federal Reserve’s stance, which increased the pressure on risky assets like Bitcoin, has benefited fiat currencies like the US dollar. U.S. stock markets suffered a similar drop, and Bloomberg is actually covering the implications.