Bitcoin Plunges To $63,000 Ethereum, XRP, Dogecoin Retreat 5% The Day After Chair Warsh Takes Over - EUROPE SAYS
Bitcoin extended losses as markets reacted to a hawkish Federal Reserve stance under new Chair Kevin Warsh, boosting the U. S. dollar and weighing on risk assets. Notable Statistics:Coinglass data shows 136,366. . .
Bitcoin extended losses as markets reacted to a hawkish Federal Reserve stance under new Chair Kevin Warsh, boosting the U. S. dollar and weighing on risk assets. Notable Statistics:Coinglass data shows 136,366 traders were liquidated in the past 24 hours for $558. 38 million. SoSoValue data shows net outflows of $82. 2 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET’Fs saw net outflows of $29. 4 million. In the past 24 hours, top losers include Lighter, SPX6900 and Aerodrome Finance. Notable Developments:Trader Notes:CryptosBatmanexplainedBitcoin has retested the lower boundary of its long-term ascending channel, a support level that has marked major cycle lows since 2018, while the weekly RSI sits at a relatively oversold 36. The analyst notes that similar setups preceded strong rallies, including a 10x move from 2019 lows and a 5x advance from the 2022 bottom. Analyst KevinsaysBitcoin is continuing to follow his bearish yearly roadmap, with the $56,000–$44,000 range remaining the key downside target. He believes this zone aligns with a bear flag measured move, major liquidity clusters, the 12-day 200 EMA/SMA, and the 0. 5 Fibonacci retracement, making it a potential long-term accumulation area despite liquidity extending as low as $40,000. Crypto Tony does notbelieveBitcoin has reached its cycle bottom yet and views the current support level as the last key structure keeping a bullish recovery scenario intact. If that level fails, he expects a move to fresh lows to become increasingly likely. Image: ShutterstockTags:category: CryptocurrencyCategory= NewsCMS: WordPresscryptocryptocurrencyPageIsBzPro: BZsymbol: $BTCsymbol: $DOGEsymbol: $ETHsymbol: $SHIBsymbol: $SOLsymbol: $XRP