Monday, 23 December 2024 The price of Bitcoin has seen a continuous decline over the past week amidst various economic and market shifts. According to CoinMarketCap data, Bitcoin is currently priced around $60,000, marking an 11.17% decrease in its market value over the last seven days. CryptoQuant analyst abramchat suggests further losses
In a recent analysis, abramchat highlighted that Bitcoin has lost a crucial short-term support level at $64,580, indicating potential selling pressure as investors may look to cut losses. Economic and political news, along with Genesis’ debt repayments, have contributed to Bitcoin’s price drop and may push it down to the $53,000 – $54,000 range, a level not seen since early July.
As Bitcoin currently trades at $59835 Is 200 MA Daily Support it may hold here few hours before decline will move toward Pattern Suppot 58100, with a 1.20% decline in the last day, caution is advised when considering altcoin investments due to the prevailing market negativity. Despite a decrease in daily trading volume by 24.45%, Bitcoin maintains its position as the largest digital asset with a market cap of $1.19 trillion, solidifying its status as the 9th largest global financial asset.