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05.11 - 17:15
Traders brace for a drop to $58K if Bitcoin price loses the $62K support
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Whipsaw price action has returned to the cryptocurrency market after Bitcoin’s (BTC) price lost steam at $67,100 and retracted to the $62,000 level.
An early morning 87% flash crash in the price of BTC at Binance US saw the price briefly touch $10,000 and it may have set the market on edge, but generally, it appears to have been an isolated event. Data from Cointelegraph Markets Pro and TradingView show that bears have briefly taken control of the market with the price now fluctuating between $62,000 to $63,500.
Here’s a look at what traders and analysts are saying about the recent price action for Bitcoin and what could be next for the top-ranked digital asset.
The rapid climb in Bitcoin over the past three weeks pushed the price back to
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