Weekly Market Wrap: Bitcoin falls below US$26,000 following Evergrande's bankruptcy
Bitcoin fell over 10% this week and dipped to a two-month low following Evergrande’s bankruptcy filing.
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Bitcoin fell over 10% this week and dipped to a two-month low following Evergrande’s bankruptcy filing.
Bitcoin and Ether fell during Thursday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. With a lack of positive news catalysts, Bitcoin could fall to the US$28,500 support level, but US$27,500 is also on the table, industry experts told Forkast.
Bitcoin fell below US$30,000 this week, as market optimism over ETFs began to ebb. Bitcoin has to hold above US$28,000 next week to avoid further bearish momentum, industry experts told Forkast.
Responding to Ron DeSantis' latest proposal to ban central bank digital currencies (CBDCs) in the United States if elected president, Akash Mahendra said such…
Bitcoin held firmly above the US$30,000 level for most of the week, despite the SEC’s silence over Bitcoin ETF applications. Bitcoin needs to close above US$32,500 for significant bullish momentum, industry experts told Forkast.