Bitcoin Drops Below $60,000. The Crypto Could Fall This Low

Dow Jones07-04

Bitcoin and other cryptocurrencies were tumbling early on Thursday. The digital asset now looks to be nearing multiple crucial support levels.

Bitcoin was down 4.5% over the last 24 hours to $57.535.

Bitcoin hit a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds but its price has dropped since then.

“A drop below $58K will disrupt the bullish picture, breaking the concentrated support area in the form of the 61.8% level ($60.3K), the 200-day moving average ($58.3K) and the previous low ($58.2K). In this case, be prepared for a drop to $51.0K with alarming consequences for the entire cryptocurrency market,” said Alex Kuptsikevich, a market analyst at FxPro.

From the current position, a 12% drop toward $51,500 is more likely than the same amount of growth to $65,800, which markets the 50-day moving average, according to Kuptsikevich.

Ether—the second-largest crypto—was down 5.1% at $3,138 but has risen more than 65% over the past 12 months.

The Securities and Exchange Commission recently approved critical rule changes to allow spot Ether exchange-traded funds to trade. The final approvals for the ETFs should come this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a recent budget hearing.

Smaller cryptos or altcoins were diving, with Solana falling 8.8%, Cardano dropping 5.2% and Dogecoin losing 6.3%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

druvaciam
07-04
druvaciam
Cool, the lower it falls the better. I what to buy Solana for the first time, so need prices to fall a little bit more [Miser]

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The Crypto Could Fall This Low","media":"Dow Jones","content":"<html><head></head><body><p>Bitcoin and other cryptocurrencies were tumbling early on Thursday. The digital asset now looks to be nearing multiple crucial support levels.</p><p style=\"text-align: start;\">Bitcoin was down 4.5% over the last 24 hours to $57.535.</p><p>Bitcoin hit a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds but its price has dropped since then.</p><p>“A drop below $58K will disrupt the bullish picture, breaking the concentrated support area in the form of the 61.8% level ($60.3K), the 200-day moving average ($58.3K) and the previous low ($58.2K). In this case, be prepared for a drop to $51.0K with alarming consequences for the entire cryptocurrency market,” said Alex Kuptsikevich, a market analyst at FxPro. </p><p>From the current position, a 12% drop toward $51,500 is more likely than the same amount of growth to $65,800, which markets the 50-day moving average, according to Kuptsikevich.</p><p>Ether—the second-largest crypto—was down 5.1% at $3,138 but has risen more than 65% over the past 12 months. </p><p>The Securities and Exchange Commission recently approved critical rule changes to allow spot Ether exchange-traded funds to trade. The final approvals for the ETFs should come this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a recent budget hearing.</p><p>Smaller cryptos or altcoins were diving, with Solana falling 8.8%, Cardano dropping 5.2% and Dogecoin losing 6.3%.</p><p></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Drops Below $60,000. 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The Crypto Could Fall This Low\n</h2>\n\n<h4 class=\"meta\">\n\n2024-07-04 18:30 北京时间&nbsp;&nbsp;&nbsp;<strong>Dow Jones</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin and other cryptocurrencies were tumbling early on Thursday. The digital asset now looks to be nearing multiple crucial support levels.Bitcoin was down 4.5% over the last 24 hours to $57.535....</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"","article_id":"1162101371","we_media_id":"1012688067","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1162101371","pubTimestamp":1720089000,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Bitcoin and other cryptocurrencies were tumbling early on Thursday.The digital asset now looks to be nearing multiple crucial support levels.Bitcoin was down 4.5% over the last 24 hours to $57.535.Bit","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"比特币跌破6万美元。加密货币可能会跌到这么低","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"Bitcoin and other cryptocurrencies were tumbling early on Thursday. The digital asset now looks to be nearing multiple crucial support levels.Bitcoin was down 4.5% over the last 24 hours to $57.535.Bitcoin hit a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds but its price has dropped since then.“A drop below $58K will disrupt the bullish picture, breaking the concentrated support area in the form of the 61.8% level ($60.3K), the 200-day moving average ($58.3K) and the previous low ($58.2K). 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I what to buy Solana for the first time, so need prices to fall a little bit more&nbsp;[Miser]&nbsp;&nbsp;","listText":"Cool, the lower it falls the better. I what to buy Solana for the first time, so need prices to fall a little bit more&nbsp;[Miser]&nbsp;&nbsp;","text":"Cool, the lower it falls the better. I what to buy Solana for the first time, so need prices to fall a little bit more [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/323939801767992","repostId":1162101371,"repostType":2,"repost":{"id":"1162101371","kind":"news","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"media_name":"Dow Jones","id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1720089000,"share":"https://ttm.financial/m/news/1162101371?lang=&edition=fundamental","pubTime":"2024-07-04 18:30","language":"en","title":"Bitcoin Drops Below $60,000. The Crypto Could Fall This Low","url":"https://stock-news.laohu8.com/highlight/detail?id=1162101371","media":"Dow Jones","summary":"Bitcoin and other cryptocurrencies were tumbling early on Thursday.The digital asset now looks to be nearing multiple crucial support levels.Bitcoin was down 4.5% over the last 24 hours to $57.535.Bit","content":"<html><head></head><body><p>Bitcoin and other cryptocurrencies were tumbling early on Thursday. The digital asset now looks to be nearing multiple crucial support levels.</p><p style=\"text-align: start;\">Bitcoin was down 4.5% over the last 24 hours to $57.535.</p><p>Bitcoin hit a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds but its price has dropped since then.</p><p>“A drop below $58K will disrupt the bullish picture, breaking the concentrated support area in the form of the 61.8% level ($60.3K), the 200-day moving average ($58.3K) and the previous low ($58.2K). In this case, be prepared for a drop to $51.0K with alarming consequences for the entire cryptocurrency market,” said Alex Kuptsikevich, a market analyst at FxPro. </p><p>From the current position, a 12% drop toward $51,500 is more likely than the same amount of growth to $65,800, which markets the 50-day moving average, according to Kuptsikevich.</p><p>Ether—the second-largest crypto—was down 5.1% at $3,138 but has risen more than 65% over the past 12 months. </p><p>The Securities and Exchange Commission recently approved critical rule changes to allow spot Ether exchange-traded funds to trade. The final approvals for the ETFs should come this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a recent budget hearing.</p><p>Smaller cryptos or altcoins were diving, with Solana falling 8.8%, Cardano dropping 5.2% and Dogecoin losing 6.3%.</p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Drops Below $60,000. 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The Crypto Could Fall This Low\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1012688067\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-07-04 18:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Bitcoin and other cryptocurrencies were tumbling early on Thursday. The digital asset now looks to be nearing multiple crucial support levels.</p><p style=\"text-align: start;\">Bitcoin was down 4.5% over the last 24 hours to $57.535.</p><p>Bitcoin hit a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds but its price has dropped since then.</p><p>“A drop below $58K will disrupt the bullish picture, breaking the concentrated support area in the form of the 61.8% level ($60.3K), the 200-day moving average ($58.3K) and the previous low ($58.2K). In this case, be prepared for a drop to $51.0K with alarming consequences for the entire cryptocurrency market,” said Alex Kuptsikevich, a market analyst at FxPro. </p><p>From the current position, a 12% drop toward $51,500 is more likely than the same amount of growth to $65,800, which markets the 50-day moving average, according to Kuptsikevich.</p><p>Ether—the second-largest crypto—was down 5.1% at $3,138 but has risen more than 65% over the past 12 months. </p><p>The Securities and Exchange Commission recently approved critical rule changes to allow spot Ether exchange-traded funds to trade. The final approvals for the ETFs should come this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a recent budget hearing.</p><p>Smaller cryptos or altcoins were diving, with Solana falling 8.8%, Cardano dropping 5.2% and Dogecoin losing 6.3%.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162101371","content_text":"Bitcoin and other cryptocurrencies were tumbling early on Thursday. The digital asset now looks to be nearing multiple crucial support levels.Bitcoin was down 4.5% over the last 24 hours to $57.535.Bitcoin hit a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds but its price has dropped since then.“A drop below $58K will disrupt the bullish picture, breaking the concentrated support area in the form of the 61.8% level ($60.3K), the 200-day moving average ($58.3K) and the previous low ($58.2K). In this case, be prepared for a drop to $51.0K with alarming consequences for the entire cryptocurrency market,” said Alex Kuptsikevich, a market analyst at FxPro. From the current position, a 12% drop toward $51,500 is more likely than the same amount of growth to $65,800, which markets the 50-day moving average, according to Kuptsikevich.Ether—the second-largest crypto—was down 5.1% at $3,138 but has risen more than 65% over the past 12 months. The Securities and Exchange Commission recently approved critical rule changes to allow spot Ether exchange-traded funds to trade. The final approvals for the ETFs should come this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a recent budget hearing.Smaller cryptos or altcoins were diving, with Solana falling 8.8%, Cardano dropping 5.2% and Dogecoin losing 6.3%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":9,"commentSize":1,"repostSize":4,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1162101371"}