Coinbry

  • Market Cap: $2,684,504,990,322.78
  • 24h Vol: $86,774,963,286.95
  • BTC Dominance: 50.16%
BTC price falls below $25.7K, leading to lowest Bitcoin bids since March

BTC price falls below $25.7K, leading to lowest Bitcoin bids since March

BTC price action is currently reflecting a battle between weak bulls and bears, but there are indications that Bitcoin may be on the verge of breaking down. Liquidity shifts on the Binance order book are causing concern, with bid support moving down to concentrate around $24,600, a price level not seen since March. While a bounce from current levels is expected, there is a belief that a breakdown will eventually occur. However, neither bulls nor bears have established significant strength at this stage. Volatility is expected to return soon, as activity on derivatives markets suggests another big move for Bitcoin. Traders hope that any downside will be limited to the high $24,000 range.

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