Crypto

Bitcoin Falls Violently Lower After Shy $ 60k Test By Investing.com

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Investing.com – After tentatively testing the $ 60,000 resistance yesterday afternoon with a spike of $ 60,047, it appears to have caught the attention of sellers, who quickly pushed the cryptocurrency below this threshold and triggered a correction, with BTC testing the threshold. of $ 57,000 on Monday morning at the time of writing this article.

Hence, Bitcoin’s dip has hit -5.3% for the time being for the past 12 hours. For a week, Bitcoin posted a decline of more than 13%.

El, the second largest cryptocurrency in terms of capitalization, is moving to $ 4,135 at the time of writing this article, almost 5% less in 24 hours and more than 11% in a week.

As for the rest of the week, traders will need to consider a shortened week due to the Thanksgiving holiday in the US on Thursday.

It should also be noted that the most important event of the week could be the long-awaited announcement by the President of the United States, Joe Biden, about his election to lead the Federal Reserve. This announcement could have implications for the regulation of the cryptocurrency industry and for monetary policy.

From a graphical point of view, it should be noted that a further decline in Bitcoin would put it against an upcoming support located around $ 56,500, ahead of last week’s low of $ 55,670. On the upside, a BTC / USD return above $ 58,000 seems necessary to offset the short-term downward pressure.

Finally, it should be noted that beyond the fall of Bitcoin, Ethereum, and most of the major cryptocurrencies on the market, some notable exceptions can be noted.

, in the fifth position of the cryptocurrency ranking, shows a gain of 2.23% since yesterday, although it continues to decline 10% in a week. , which fell 3% in 24 hours after a new record over the weekend, maintained a gain of more than 34% for a week.

But the Top 20 cryptocurrency that stands out the most is the one that has shot up + 15% since yesterday and + 42% in the last 7 days.

Responsibility: Fusion Media I would like to remind you that the data contained in this website is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so the prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any responsibility for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.

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