What was most painful for investors in the FTX crash was the price’s failure to hold the previous ATH level as support. A classic was broken and in this cycle, BTC fell below its previous peak, as in 2022. To understand the extent of the collapse, you can consider that BTC is at levels below 20 thousand dollars in 2022.
Bitcoin ATH Test
BTC price Although the US took a break from the decline for a few minutes after the market opening, the stock market continued to sell and followed the index. The price has fallen below the 2021 ATH level and the current daily low is at $68,640 and at the time of writing, the figure could move lower. JOLTS It was worse than expected, but this was in crypto’s favor as it pointed to weakness in labor markets. However, BTC, which is suppressed due to the decline in the stock market, is in decline despite the good data.
The closest price zone that Bitcoin is now expected to hold as support is at $66,165. Below that is the $62,700 level, where it started its rise in October 2024. For altcoins, the ongoing BTC decline means destruction. XRP Coin is at $1.33 and SOL Coin has lost the $88 support. Although ETH targets $1,800, it is holding $2,000 for now. When we came to the end of the article, BTC was at $68,560.
