According to the latest data from the cryptocurrency market, BTC (Bitcoin) fell below the support level of $46k in the early morning of Sunday, reaching a low of $45,525.19 after failing to break through the $50K value on Saturday morning. Some analysts pointed out that the optimistic sentiment has weakened after the Bitcoin bulls lost to the bear market at the 50k obstacle.
The picture is Bitcoin K-line analysis chart
A senior cryptocurrency user said on Twitter that Because there are a large number of retail investors expressed concern about whether Bitcoin can truly enter the bull market, it is only a matter of time before the Bitcoin price falls below 46k this time. However, as the current situation is, Bitcoin is likely to rise again to reach the resistance level before the $50k and fight in the bear market.
cryptocurrency analyst Michaël van de Poppe hinted that a long-term liquidation moment may soon appear, or Bitcoin will break through the $50k resistance zone in the next week, and conversely, its price may fall to the 42k support level in the future. Currently, the Bitcoin price holds the $45k position and tries to break through $46,500 again. The decline in the price of Bitcoin also affected most altcoin, ETH (Ether) fell out of $3,200, MKR fell out of $3,700, AAVE fell out of $400, etc.
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