Bitcoin: Breaks Below $69,000 Erasing $220B Market Cap
Bitcoin drops below $69,000 after shedding $13,000 in 19 days, with $730.75 million in liquidations and $220 billion market cap erased.
SourceAnalysis
Bitcoin just broke below $69,000. It is now down $13,000 in the last 19 days wiping out $220 billion from its market cap. $730.75 million worth of positions have been liquidated in the last 24 hours alone.
Price action on the 4-hour chart reveals BTC testing lower Bollinger support at $69162.72 while the RSI at 17.42 flashes extreme oversold readings. The MACD death cross at -1198.7 locks in the bearish structure beneath EMA50 resistance at $73601.78 and EMA200 at $76128.21, setting up a potential relief bounce only after volatility exhausts at the lower band.
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