The post Bitcoin Double Top Warning: How Low Could the BTC Price Fall? appeared first on Coinpedia Fintech News
The crypto market is currently facing a major selloff, with Bitcoin leading the downturn as its price dropped to $62k, triggering losses across Ethereum and other altcoins. The total market capitalization has plummeted from $2.35 trillion to $2.26 trillion in the last 24 hours, causing investors to lose a staggering $160 billion in net wealth within a week.
Bear Conditions and Key Factors
Investor sentiment has shifted from extreme greed to neutrality, with the fear and greed index dropping from 76 to 51. Bitcoin’s price fell more than 3%, reaching a low of $62,258 amid ongoing selling pressure. Traders are eyeing the critical support level of $61,000, previously seen in April and May. Moreover, Market data from Coinglass shows $170 million in liquidations today, highlighting high volatility and risk aversion among traders. A significant order on BitMEX saw a w
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