Bitcoin falls below 50-week moving average! BTC plummeted more than 40% from its historical high, and long positions of US$1 billion were liquidated. Can US$75,000 be held?
Bitcoin once again faces a key technical test! BTC once fell below $74,000 and closed below the 50-week moving average the previous week, ending a seven-week streak of holding the indicator steady. At the same time, more than $1 billion in long orders were liquidated in the derivatives market, and spot Bitcoin ETFs saw outflows of approximately $1.28 billion in a single week. The market is focused on whether support can be re-formed near $75,000. 〈Bitcoin falls below 50-week moving average! BTC plummeted more than 40% from its historical high, and long positions of US$1 billion were liquidated. Can US$75,000 be held? 〉This article was first published in "Block Guest".
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