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BTC Selloff Results in the Crypto Losing 2 Major Support Levels

Published 15/07/2023, 19:06
© Reuters BTC Selloff Results in the Crypto Losing 2 Major Support Levels
ETH/USD
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  • BTC’s price dropped more than 3% over the past 24 hours to trade at $30,344.96 at press time.

  • This negative 24-hour performance resulted in BTC dropping below 2 major support levels.

  • Technical indicators suggested that BTC may enter into a short-term bearish cycle in the coming days.

This past week has been good for many cryptocurrencies, including the crypto market leader, Bitcoin (BTC). Unfortunately, CoinMarketCap indicated that, at press time, BTC was trading at $30,295.31 after it saw its price drop by more than 3% over the past 24 hours.

Consequently, BTC was trading closer to its daily low of $29,966.39 than its 24-hour high of $31,354.48. In addition, BTC’s daily trading volume fell by more than 27% throughout the past day of trading, which left the total standing at around $18.64 billion at press time.

However, despite BTC’s latest price decrease, the crypto’s weekly performance was still in the green at +0.49%. Additionally, BTC performance over the past month was also up by 21.78%. BTC was also able to outperform the altcoin leader Ethereum (ETH), and was up 0.14% against the crypto.

Daily chart for BTC/USDT (Source: TradingView)

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The post BTC Selloff Results in the Crypto Losing 2 Major Support Levels appeared first on Coin Edition.

The post BTC Selloff Results in the Crypto Losing 2 Major Support Levels appeared first on Coin Edition.

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