Bitcoin Falls Below $28K; More Correction Ahead for BTC Price?

CoingapePublicado em 2023-08-18Última atualização em 2023-08-18

Resumo

Bitcoin’s recent dip below $28,000 has caught the attention of investors and market analysts. Currently, Bitcoin price is trading at $27,966 according to Coingape, the cryptocurrency is facing a challenging week as it grapples with the risk of further losses.

Bitcoin’s recent dip below $28,000 has caught the attention of investors and market analysts. Currently, Bitcoin price is trading at $27,966 according to Coingape, the cryptocurrency is facing a challenging week as it grapples with the risk of further losses.
Will Next Support Hold for BTC Price?
Despite trading sideways for an extended period, Bitcoin’s stability is now threatened. The current support level is $27,718.15, while the resistance level is $29,192.26. With a 24-hour trading volume of $21,294,148,208, Bitcoin has seen a 3.75% drop in the last day. Despite the dip, Bitcoin remains the top-ranked cryptocurrency, boasting a live market cap of $543,844,429,644.

BTC price below $28k

BTC/USD 1-day price chart, Source, Coinmarketcap


The release of the latest Federal Reserve minutes on August 16th has further sharpened the focus of Bitcoin bears, with buy-side interest declining and sending BTC/USD to near two-month lows of $28,300.

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