Bitcoin: Drops Below $80,000 on $335M Liquidations
The Kobeissi Letter reports Bitcoin and ETH falling sharply with $335 million in crypto liquidations over 24 hours as tech stocks decline and Bitcoin moves back below $80,000.
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Bitcoin and ETH fell sharply as crypto liquidations reached $335 million over the last 24 hours while tech stocks dropped, according to @KobeissiLetter. Bitcoin is officially back below $80,000.
Price sits at $80041.28 inside the Bollinger Bands with bearish structure below the EMA50 at $81066.69 and EMA200 at $81709.78. Neutral RSI at 43.11 and a MACD golden cross at -3.29 suggest the move lower may pause near the lower band support at $79316.14 before any rebound attempt.
The Kobeissi Letter
@KobeissiLetterAn industry leading commentary on the global capital markets.