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    Home ยป What to Expect if Bitcoin Falls Below 57000
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    What to Expect if Bitcoin Falls Below 57000

    By adminJun. 25, 2024No Comments2 Mins Read
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    What to Expect if Bitcoin Falls Below 57000
    What to Expect if Bitcoin Falls Below 57000
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    The recent drop of Bitcoin to $57,000 was surprising after its sharp decline below $65,000.
    In this new reality, the market must react in some way. Here are three potential scenarios if BTC breaks below the critical level of $57,000.
    Weakening of the 200 EMA as support
    If Bitcoin falls below $57,000, the 200-day exponential moving average (EMA) will no longer serve as a level of support. This is a key technical indicator for assessing the overall trend. Loss of this support could push BTC into bear territory and potentially strengthen the sell-off. As traders and investors lose confidence in Bitcoin’s ability to maintain key support levels, this could lead to further price declines.
    Read more:


    Following Mt.’s news, Bitcoin is losing its dominant position in the cryptocurrency market. Gox
    Rise in liquidations
    Many buyers may try to use the decline to purchase BTC at low prices around the $56,000 mark. However, if the cryptocurrency cannot hold this level, more liquidations may occur. This could trigger additional sell orders due to the activation of buyers’ stop-losses, further lowering the price. Increased selling pressure could make it difficult to stabilize the price of Bitcoin, accelerating the decline.
    Potential sales and market impasse
    If Bitcoin falls below $57,000, some institutional sales may stop due to lack of liquidity. This could lead to a sideways market, with the leading cryptocurrency trading between $55,000 and $60,000, while buyers and sellers wait for more favorable conditions. On the other hand, if institutional investors continue to sell, BTC could drop to $50,000. Institutional investors, holding a significant portion of the market, have a significant impact on the price of Bitcoin. Continued sales could impede the recovery of BTC in the short term, potentially leading to a prolonged bear market.

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