Greeks.Live: Traders are focusing on $75,000 and $67,000-$70,000 as potential support ranges
According to the daily brief from the Greeks.Live English community, traders are currently focusing on $75,000 and $67,000-$70,000 as potential support ranges. Although some believe that prices may rebound to the range of $92,000-$94,000, most people are cautious about establishing new positions before clear signals appear.
The price of Bitcoin plummeted from $94,000-$96,000 to about $80,000 within a week causing significant losses for traders. Some users reported account retracements of up to 70%, with "seven months' profits turned into nothing".
This sell-off has been described as out-of-control momentum without any clear catalysts. Notably during this decline process perpetual contract funding rates remained positive which is different from previous market bottoms.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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Tanzania renews Barrick North Mara gold mine licenses for 15 years
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