Bitcoin falls to $83,508 after failing at $87,000
After failing to hold above the $87,000 threshold, bitcoin erased its recent rebound. The price dropped to $83,508, while the liquidations of long positions amplified the downward move.
Bitcoin failed to stay above $87,000.
The BTC lost about $2,000 in 30 minutes, down to $83,508.
Liquidations of long positions amplified the bearish move.
About $583 million in positions were liquidated in the crypto market.
The 80,000 to 84,000 dollar zone becomes decisive for the continuation of the rebound.
Bitcoin loses $2,000 in just 30 minutes
Bitcoin had touched $87,000 for the second time during the week after a rise of about $2,000 in less than twelve hours. However, buyers failed to defend the level, triggering an initial drop toward $85,300.
Then, an attempted rebound stalled below $86,000. The break of that support accelerated the decline. Thus, the BTC lost about $2,000 in thirty minutes, before reaching an intraday low of $83,508. The temporary return toward $84,800 was not enough to reverse the trend.
Key figures reveal how quickly the turn came:
A weekly high above $87,000;
An intraday low of $83,508;
A drop of about 2.7% in twenty-four hours;
A bitcoin market capitalization that fell from $1.74 trillion to less than $1.70 trillion;
A total crypto market capitalization that fell back below $3.0 trillion.
$BTC
$UNH.US
$SUPN.US
#bitcoin
After failing to hold above the $87,000 threshold, bitcoin erased its recent rebound. The price dropped to $83,508, while the liquidations of long positions amplified the downward move.
Bitcoin failed to stay above $87,000.
The BTC lost about $2,000 in 30 minutes, down to $83,508.
Liquidations of long positions amplified the bearish move.
About $583 million in positions were liquidated in the crypto market.
The 80,000 to 84,000 dollar zone becomes decisive for the continuation of the rebound.
Bitcoin loses $2,000 in just 30 minutes
Bitcoin had touched $87,000 for the second time during the week after a rise of about $2,000 in less than twelve hours. However, buyers failed to defend the level, triggering an initial drop toward $85,300.
Then, an attempted rebound stalled below $86,000. The break of that support accelerated the decline. Thus, the BTC lost about $2,000 in thirty minutes, before reaching an intraday low of $83,508. The temporary return toward $84,800 was not enough to reverse the trend.
Key figures reveal how quickly the turn came:
A weekly high above $87,000;
An intraday low of $83,508;
A drop of about 2.7% in twenty-four hours;
A bitcoin market capitalization that fell from $1.74 trillion to less than $1.70 trillion;
A total crypto market capitalization that fell back below $3.0 trillion.
$BTC
$UNH.US
$SUPN.US
#bitcoin
