Your cart is currently empty!
Bitcoin breaks below a key level
It’s an ugly day for risk assets and bitcoin is no exception.
What I think is happening is that many in markets are anticipating profit taking in high-flying assets early in the new year as that pushes capital gains taxes out until 2026. There is a front-run of that selling in markets now, including in hot tech stocks and bitcoin. It has the S&P 500 down 1.5% and bitcoin lower by 3%.
Bitcoin has now broken below the key $92,000 level. It’s supported bitcoin several times in December but it’s now given way. There is some nearby support at the late-November low of $90,631 and at the $90K level but it could get very ugly on a break of that .
Bitcoin daily
Bitcoin has recently broken below a key level, causing concern among investors and traders. The cryptocurrency, which had been trading above the $60,000 mark for weeks, has now dropped below $55,000.
This break below a key level has many wondering if Bitcoin’s bullish momentum is coming to an end. Some analysts believe that this drop could be a sign of a larger correction in the market, while others see it as a buying opportunity.
It’s important for investors to closely monitor the price action of Bitcoin in the coming days and weeks to determine if this break below a key level is just a temporary setback or the beginning of a larger downward trend.
Stay tuned for more updates on Bitcoin’s price movements and market sentiment.
Tags:
- Bitcoin price analysis
- Cryptocurrency market update
- Bitcoin price prediction
- Bitcoin technical analysis
- Cryptocurrency news
- Bitcoin price movement
- Bitcoin market trends
- Bitcoin price forecast
- Cryptocurrency analysis
- Bitcoin market update
#Bitcoin #breaks #key #level
Leave a Reply