- BTC costs climbed by 0.73% to reach $63,465.60 in the past day.
- Forecasters predict a possible Bitcoin slide to $60,000 due to bearish trends.
- The crypto sphere remains vigilant as market participants closely watch BTC’s next transition.
Bitcoin’s retail value has seen a minor increase of 0.73% over the past day, bringing it to $63,465.60. This marks a major moment for shareholders, with the market cap standing strong at $1.25 trillion. The 24-hour trading volume also climbed by an astounding 86.89%, totaling over $27.97 B. This volume-to-market cap dependence indicates a healthy cycle of activity in the industry, with the volume-to-market cap standing at 2.23%.
Source: Coinmarketcap
Bitcoin Faces Potential Drop to $60,000: Analyst’s Warning
The current Bitcoin value fluctuations have raised concerns among analysts and market spectators. This is evidenced by the recent tweet by one of the prominent analysts, the Moon, who actually sent a warning to BTC investors about a price decline breakout. In his tweet which garnered 74.6K views, he went on to illustrate on a chart how the triangle format could have a substantial impact on the token’s price trajectory.
He went on to further illustrate how the price could further decline following how the bearish psychological movement had already commenced within the graph. At the time of the tweet, BTC was hovering above the $63,000 mark, meaning a drop to $60,000 would represent an important. decline.
#Bitcoin mustn’t break down of this triangle, otherwise it could dump to $60,000 😬 pic.twitter.com/gqkdDUNeLk
Read CRYPTONEWSLAND ongoogle news — The Moon (@TheMoonCarl) September 22, 2024
The Moon’s followers, known for their active engagement with market updates, responded with both optimism and caution. Some hope that Bitcoin will hold above the triangle and avoid the sell-off, while others brace for a short-term decline. The tweet’s engagement indicates that the community remains highly attentive to any technical developments that could signal major price moves.
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