Bitcoin Price At Risk of Dropping To $60K – What to Expect Next
The post Bitcoin Price At Risk of Dropping To $60K – What to Expect Next appeared first on Coinpedia Fintech News
The Bitcoin Bull Rally appears to be losing steam as Bitcoin (BTC) plunges to $66,699, marking an 8.2% drop in the last 24 hours. However, the cryptocurrency quickly bounced back above $67,730, maintaining a market cap of $1.322 trillion.
Amidst this volatility, over $680 million in assets have been liquidated. Experts foresee more price drops ahead, with predictions of Bitcoin plummeting to the $60k price level possibly before the Halving Rally.
$680 Million Aassets LiquidatedThe Bitcoin price drop has prompted a significant liquidation event across the entire network, as reported by Coinglass. Over the last 24 hours, a staggering $680 million worth of assets have been liquidated, with a substantial portion of $545 million originating from long orders while $134.6 million in shorts has been liquidated.
This widespread liquidation has affected a total of 193,270 individuals within the cryptocurrency community. However, one of the most significant liquidation orders occurred on the OKX – BTC -USDT-SWAP platform, amounting to a substantial $13.3 million.
BTC Price Dip AheadRenowned crypto analyst Captain Faibik recently warned investors about Bitcoin’s short-term direction, particularly on the 2-hour timeframe. He highlighted a confirmed Rising Wedge Downside Breakout, suggesting a likely drop in Bitcoin’s price.
