Bitcoin Plunges
Bitcoin drops below $60,000, Ethereum, XRP, Dogecoin lose 3% in crypto sell-off
Bitcoin dropped below $60,000 on Wednesday before a slight recovery amid a sell-off in semiconductor shares.
Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $560,649 Ethereum (CRYPTO: ETH) $1,606 Solana (CRYPTO: SOL) $67.25 XRP (CRYPTO: XRP) $1.03 Dogecoin (CRYPTO: DOGE) $0.07303 Shiba Inu (CRYPTO: SHIB) $0.0 5 4222 Notable Statistics: Coinglass data shows 107,733 traders were liquidated in the past 24 hours for $433.38 million.
SoSoValue data shows net outflows of $113.8 million from spot Bitcoin ETFs on Tuesday.
Spot Ethereum ETFs saw net outflows of $82.4 million.
In the past 24 hours, top losers include Audiera, Venice Token and Pump.fun.
Notable Developments: Bitcoin Plunges To $62,000: What Is Going On? Bitcoin Plummets To $61,000, But The Real Story Is The US Banking System, Caitlin Long Says Saylor’s Critics Grow Louder: MSTR Needs To Halt Bitcoin Purchases Immediately, CryptoQuant CEO Says Ripple Prime’s Revenue Tripled Since Hidden Road Acquisition And RLUSD Is The ‘Settlement And Collateral Asset’ Senate Democrats Demand Hearing About $500M UAE Investment In Trump Crypto Venture Solana A Buy At $69? Analyst’s Bearish Target Hits The Mark, But Here’s What The Technicals Suggest Trader Notes: Crypto trader Altcoin Sherpa remains uncertain about Bitcoin’s next move but warns that losing the current support level could open the door to a decline toward $54,000.
Trader KillaXBT admits the bullish thesis may be failing but notes that market bottoms are typically marked by volatile, liquidity-hunting price action that shakes out traders.
He suggests focusing on long-term Bitcoin accumulation and ignoring short-term noise.
Technically, $59,000 remains the key level.
A break below that wick low would require a strong reclaim to restore a bullish outlook.
CoinBureau founder Nic Puckrin warns that Bitcoin is losing a major technical support zone after falling below its 200-week SMA and nearing the $60,000 level.
A weekly close below this area could signal further weakness and open the door to a decline toward $57,900, marking it to be a new cycle low.
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