Bitcoin (BTC), the largest cryptocurrency, experienced a significant drop, falling below $90,000 and losing $118 billion in capitalization in just 12 hours.
Key Levels for Bitcoin
In the short term, the Bitcoin (BTC) price might find its local 'floor' near $90,000. The pseudonymous cryptocurrency analyst Percival considers $88,000 as an important level.
$700 Million Liquidated in Worst Session
Bitcoin (BTC) is in the midst of its worst sell-off in the last three weeks. The net volume of liquidations in crypto exceeds $700 million, CoinGlass data shows.
Outlook for Short-Term Holders
Despite the current decline, short-term Bitcoin holders do not see significant realized losses that bother them. The analyst emphasizes looking at the $88,000 level for these investors.
Analysts continue to closely monitor market developments, focusing on critical levels and potential impacts on short-term investors.
