Traders brace for a drop to $58K if Bitcoin price loses the $62K support By Cointelegraph – Investing.com
- Date: 23-Oct-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Traders brace for a drop to $58K if Bitcoin price loses the $62K support By Cointelegraph – Investing.com
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 $8,200 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.
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