Bitcoin’s price has recently surged to $61,000, but there is a possibility of a decline in the near future. Today, the court will announce its decision on the former CEO of Binance, Changpeng Zhao. The market is currently experiencing a sense of panic ahead of the announcement, resulting in continued selling and a drop in Bitcoin’s price.
Article: Bitcoin’s Value Plummets to $61,000! Millions of Dollars Liquidated
Bitcoin, the leading cryptocurrency, has experienced a significant drop in value, reaching $61,000 and causing billions of dollars to disappear from the market. Over the past 24 hours, a staggering 80,710 investors have suffered liquidation, amounting to a total of $239 million.
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The largest liquidation order seems to have taken place on Binance, with Ethereum being liquidated for $5.03 million.
Analyzing the liquidation figures from the past 24 hours, it appears that Ethereum has experienced higher liquidation amounts compared to Bitcoin. While Ethereum witnessed $75 million in liquidations, Bitcoin’s liquidation amount reached $64 million.
Bitcoin’s Future Hangs on $60,000 Support
The BTC/USD pair failed to overcome the resistance zone at $64,750, signaling a new downward trend. Currently, the downward movement seems likely to continue, and the price must find immediate support around $61,200.
The $61,000 level serves as the primary support point for Bitcoin. However, if the price falls below this level, further declines can be expected, with a potential downward trend towards $60,750. In the short term, if losses persist, the price might even touch the support zone at $60,200.
Disclaimer:
The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies carry a high level of volatility and risk, and should conduct their own research before making any decisions.
