Bitcoin Falls To $63,000 As Ethereum, XRP, Dogecoin Slide 4% On $400 Billion AI Capital Rotation

Benzinga06-05 02:50

Bitcoin traded near $63,000 on Thursday as cryptocurrency markets extended their decline amid more than $1 billion in liquidations, worsening fear sentiment. Notable Statistics: Notable Developments: ...

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broader downtrend after a bearish retest of the low-$80,000 region, a trend that has persisted since October last year.\nThe analyst said traders are closely watching whether BTC establishes a long-term range between $60,000 and $80,000 or breaks below the key $60,000 support zone, which coincides with the weekly 200-week moving average.\nKillaXBT argued Bitcoin’s market cycles are accelerating, noting BTC reached a new all-time high before the 2024 halving, unlike previous cycles.\nBased on that thesis, the trader believes Bitcoin could reach fresh record highs before the next halving in April 2028, implying a move above $120,000 within the next 500 days\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click 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