Bitcoin (BTC) has had a turbulent weekend with a sharp price drop that wiped out more than $3,000 in value. After a relatively calm day in which the currency clung to $63,000, Bitcoin took a sudden plunge on Saturday afternoon.
The price fell from $63,000 to $61,000 within an hour and eventually fell to the critical support level of $60,000.
A crucial level
The rapid decline, with Bitcoin losing almost 4% of its value, has put the crypto market on edge. The $60,000 mark acts as a crucial support level for Bitcoin, one that has prevented further price decline several times in the past.
Once again, the level seems to be holding, with clear signs of recovery shortly after this critical limit was reached. Nevertheless, the price is currently hanging by a thread.
If Bitcoin falls below $60,000, there is a risk of a further decline to $57,000. However, should the coin stabilize or start to recover, the next resistance barrier can be found at $64,000.
The crypto market turns red
Not only Bitcoin has suffered a significant price drop; Major altcoins such as Ethereum, Solana, and Dogecoin have also suffered declines of more than 4 percent in the past 24 hours.
Trade €10,000 for free and get a 10 euro bonus
Do you want to enter the crypto world and perhaps buy Bitcoin or another crypto? Then grab your chance now with this exclusive offer! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers receive an exclusive offer.
Create an account with Bitvavo via the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you also don’t pay trading fees on your first 10,000 euros in transactions. Register now!
Source: https://newsbit.nl/bitcoin-koers-zakt-tot-cruciaal-60-000-dollar-niveau-hoe-nu-verder/
