Bitcoin slid 5.95% from the previous session to $82,833.66, having earlier fallen to the low $82,000s. Ethereum dropped to around $2,700, while Binance Coin traded in the $840s and XRP hovered around $1.70. The move comes as the broader cryptocurrency market faces renewed volatility amid macro uncertainty.
CoinGlass data showed long-liquidation volume in the crypto market exceeding $650 million, the second-largest level in the past month. That level underscores renewed selling pressure as momentum traders capitulated. Matt Mann, a crypto research strategist at 21Shares, said that whether BTC can hold the $84,000 support level will be crucial.
With the $84,000 support reportedly fragile, traders are eyeing the next major support near $73,000. AM Management analyst Song Seung-jae warned that if BTC breaks below the $68,000–$73,000 zone and slides further, it could fall to the $40,000s in the medium term. He added that while a short-term rally is possible, investors should view any rebound cautiously rather than as a trend reversal until BTC regains the 30-day moving average on the daily chart.
Leave a Reply