Bitcoin Falls Below $72,000 as $70,000 Comes Into Focus
- Bitcoin fell below $72,000 on Nov. 12, extending losses toward $71,500 as trader Jesse Olson warned that long liquidation clusters could accelerate the downward move.
- Earlier in the week, crypto.news reported that inflation fueled crypto liquidations, alongside $2.22 billion in withdrawals from US spot Bitcoin ETFs across eight sessions starting Oct. 30.
- Bitcoin traded below the 20-week SMA at $74,220 and the 50-week SMA at $75,157, leaving both averages as resistance. Prices slipped outside the daily lower Bollinger Band at $71,978.
- In a Nov. 12 post, trader Daan Crypto Trades compared the current retracement to Bitcoin's 2023 bear-market recovery, describing the drawdown as slower and more orderly than the earlier episode.
- Analysis estimates 1.6 million BTC acquired between $75,000 and $80,000 is held at a loss, creating potential sell pressure. Recovering the $74,200–$75,200 area is required to reverse the technical break.
19 Articles
19 Articles
During the bidding process, the cost of bitcoin fell below $70,000 for the first time since 20 August. 2.18 per cent of the morning of the Bitcoin was reduced to $69,900 and then slowed down the fall to $66.01,000. At the same time, the Ethereum lost 1.8 per cent to 1983.44 dollars. According to the Coinglass site, over the past 24 hours the world's cryptobiers had eliminated positions of 125.76,000 traders totalling $901.89 million. About $772 …
Bitcoin falls below $72,000 as $70,000 comes into focus
Bitcoin has fallen below $72,000 on Nov. 12, losing another layer of support as its daily chart shows prices slipping outside the lower Bollinger Band and its weekly recovery continues to unravel. TradingView’s Binance BTC/USDT chart showed an intraday low…
Selling pressure intensifies in the cryptocurrency market
The Crypto Market Has Fallen Below the Key 200-Day Ma, Accelerating the Decline - ActionForex
The crypto market capitalisation has fallen below $2.40T and its 200-day moving average. Bitcoin has dropped below $72K; the nearest strong support is $63–66K. Ethereum has fallen below $2,000, with the next support levels at $1,850 and $1,550. Market Overview The crypto market capitalisation has fallen to fresh lows since mid-August, below $2.40T, due to […]
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