Bitcoin price dropped below $ 30,000

The price of bitcoin this Wednesday, after another resistance test of about $ 33,000, dropped below the weakening support at $ 30,000. At the time of publication, the first cryptocurrency is trading at about $ 29,500.

“We’ve been waiting for the $ 25,000-28,000 range for so long that the price is likely to either bounce or collapse. It will be a rare case if the majority turns out to be right, ”writes trader Scott Melker. “Of course, I’m not long right now.”

The Bybt service reports on the liquidation of positions for more than $ 500 million over the past 24 hours. At the same time, Bitcoin today again shows an inverse correlation with the dollar index, which recovered to a two-week high.

“Closed the long as the whales on Coinbase stopped buying BTC,” said CEO of analytical platform CryptoQuant Ki Yong Joo, pointing out that the price of Bitcoin on Coinbase has dropped below the market average. Earlier, he noted that the occurrence of an overpayment on Coinbase has repeatedly foreshadowed a period of growth in the rate, and its disappearance – a fall.

Altcoins are falling along with bitcoin. Polkadot, Litecoin and Bitcoin Cash are losing the most at the top of the list of the largest cryptoassets: from 8 to 10%. At the same time, Ethereum fell less than bitcoin in dollar terms and thus continued to grow in relation to the first cryptocurrency.

Donald Westbrook

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