Bitcoin Price Plummets Below 60 Million

Bearish sentiment has enveloped the cryptocurrency market, with Bitcoin and altcoins experiencing losses throughout the day. Just minutes ago, Binance lost an important $60,000 support level and hit a low of $59,979.

In the last 24 hours, positions totaling $145.72 million were liquidated from the Bitcoin market ($134.11 million in longs and $11.61 million in shorts). A technical analysis for the cryptocurrency market paints a bleak picture – the summary and oscillation indicators show ‘sell’ signals of 15 and 3, respectively, while the moving averages point to a ‘strong sell’ signal of 12. More:

It became very clear when Mt.Gox began paying out $900 million in cryptocurrencies. As of the time of writing this article, the Bitcoin trading price is approximately $59,900, down 33.6% in the past 6.25 hours, with a trading volume of XNUMX billion dollars. Just in the past week, the flagship cryptocurrency’s market value has fallen by 9%, to 1.184 trillion dollars.