Bitcoin, Ethereum, Dogecoin In The Red Again, Analyst Reveals Downside Target

The cryptocurrency market is declining as Bitcoin holds support at $60,000.

Cryptocurrency price Profit +/-
Bitcoin BTC/USD $59,925.51 -3.3%
Ethereum ETH/USD $3,275.86 -4.1%
Solana Sol/USD $140.10 -7.9%
Dogecoin DOGE/USD $0.1177 -5.1%
Shiba Inu SHIB/USD $0.00001632 -4.7%

Notable statistics:

  • According to data from IntoTheBlock, Bitcoin metrics are declining, with large transaction volume down 6% and daily active addresses down 14%. Transactions over $100,000 have also dropped significantly.
  • Coinglass noted that Bitcoin liquidations ($39.1 million) and open interest ($33.4 billion) are at their highest levels since June 25. In the past 24 hours, 61,742 traders liquidated $171.26 million.
  • Cryptocurrency Trader Michael van de Poppe I got it. Bitcoin’s CME gap has been resolved.
  • Daan Cryptocurrency Exchange Highlighting 60,000, a massive shortfall of $45 million.

Notable developments:

Top losers:

Cryptocurrency price Profit +/
Ethereum Name Service ENS/USD $25.99 -16.3%
Dogwif Hat WIF/USD $1.85 -15.7%
Bonk Bonk/USD $0.00002187 -14.1%
Trader Notes: Cryptocurrency Chart Analyst Ali Martinez He said if Bitcoin falls below $60,600, it could fall further.

Another cryptocurrency trader He emphasized that the desired target for Bitcoin is $157,000. He noted that the cryptocurrency king is currently in its fourth wave and “only one final (and big) upswing remains.” The trader added that even if things don’t go as expected, it could still settle close to that level.

Benjamin Cowen Highlighted resistance levels for Bitcoin.

Image: Shutterstock

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Market news and data provided by Benzinga API

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