King crypto money The currency fell below $61,000 as expected at the time of writing. It has been happening for months. Binance As increasing sales on the side overshadow US-based demand, the price naturally goes down. So what’s the latest situation in the cryptocurrency markets? Here are the details.
Why Is Bitcoin Falling?
The dollar index has fallen to its lowest level in 52 weeks and is about to fall below 100. After a long period of time, this chart points to the weakening of the dollar and the upcoming interest rate cuts. Under normal conditions, while the DXY has weakened so much, BTC The price should be running towards the top. But it is not. The intense interest in futures has instilled in investors the belief that every attempt to go up will fail. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
That’s why investors insistently run to sell at every peak. After the last resistance test at $65,000, the expected happened again and BTC turned downward with rapid sales, as we have been experiencing for months.
If we start seeing closes below $61,700, it could pave the way for a new downward move towards $55,000. The price is already on the threshold of $60,100. Altcoins The sell-off will probably accelerate in the coming minutes. Investors should remain cautious against sudden increases and decreases in altcoins.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
