Bitcoin fell to US$62,080, its lowest level in four months and approximately 50% below its all-time high of US$126,000. After touching that support level, the price rebounded above US$65,000, although it has lost nearly 15% over the past seven days.
The decline is part of a widespread sell-off in the crypto market that reduced the sector’s total market capitalization to around US$2.2 trillion, also affecting other major assets such as Ethereum and Solana. The US$62,000 area is acting as the first technical support level; if it is breached again, the market’s focus would shift to US$60,000 and the yearly low of around US$58,500 recorded in July. $BTC
The decline is part of a widespread sell-off in the crypto market that reduced the sector’s total market capitalization to around US$2.2 trillion, also affecting other major assets such as Ethereum and Solana. The US$62,000 area is acting as the first technical support level; if it is breached again, the market’s focus would shift to US$60,000 and the yearly low of around US$58,500 recorded in July. $BTC