Bitcoin (BTC) fell sharply on October 27 when it finally slumped $60,000 to a two-week low.

1 hour BTC/USD light chart (bit print). Source: TradingView
Bitcoin stumbles on big buys
Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD was near $58,000 at the time of writing, hitting its lowest level since October 15.

The move comes after several retests of $60,000 worth of bitcoin now taking liquidity into a large buffer wall with $57k as its base.

Analysts are already prepared, Cointelegraph reports, and some data suggests that only a deeper drop to $50K will continue to maintain the overall bullish trend.

Meanwhile, commenting on the situation, Charles Edwards, CEO of investment firm Capriol, accused traders of borrowing money to stir up volatility.

“Basically, bitcoin looks amazing here on most accounts, but merchants are out of control,” he said.

“We will not continue to raise prices until this changes.”
The data showed that $500 million in cryptocurrency was liquidated in one hour.

Altcoins lose a lot when the trend reverses
Ethereum (ETH) led to an altcoin leak on Wednesday, dropping below the hard-earned benchmark of $4,000.

ETH/USD 1 hour light chart (bit print). Source: TradingView
On the topic: The expanded ecosystem and open interest in futures contracts of $1.86 billion brings back Solana’s $250 target.

Some of the top 10 cryptocurrencies by market capitalization have experienced daily losses of over 15%, including Dogecoin (DOGE) and Solana (SOL).

The Shiba Inu (Ship) was still in positive territory, up 23% on the day, despite market changes, and the stormy month continued.

Source: CoinTelegraph

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