Wed. May 22nd, 2024

In the early hours, Bitcoin (BTC) experienced a significant slip, dragging the market down as it often does. Red dominates the scene at the moment. In this morning update, we bring you the latest insights into the current crypto market situation, ensuring you stay informed even on the second day of Christmas.

Bitcoin Dips Below $43,000

On Sunday night, Bitcoin dropped below its support level of $43,400. However, yesterday, in the early afternoon, the price easily surpassed this level, reaching a peak of around $43,800. Throughout the afternoon, evening, and night, Bitcoin moved sideways, just above the mentioned price level of $43,400. At 06:00 hours, Bitcoin suddenly took a steep downward turn. In just one hour, the price plummeted from $43,450 to a low of $42,650, marking a 1.8% decline.

The next significant resistance level is understandably the lost level of $43,400. If the descent continues, $42,400 could be the next stop. Stay tuned for further market developments.

By Prim

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