- Sharp drop in cryptocurrencies, many below the weekend floor.
- Bitcoin cuts losses in the last hours, it is still below $ 50,000.
The price of Bitcoin has lost more than 8% in less than 24 hours, and after recovering $ 2,000. The price began a fall in the American afternoon that lasted for hours. From the level near $ 55,000 it plunged to $ 47,555, a 13% end-to-end decline, the lowest level since March 6.
In the last hours the BTC / USD leveled off and regained some of the lost ground. It’s approaching $ 50,000. If above that level, the closest resistance can be seen around $ 53,000, which hours ago was the key support that broke before accelerating to the downside.
The Technical outlook shows BTC vulnerable to the downside. The fall on Thursday / Friday recalls what happened over the weekend, when in minutes the price had a sharp fall of almost $ 10,000. In the last eight days, the price fell by seven.
The Red has taken over the entire cryptocurrency market on Friday. Ethereum falls 5.88%, XRP, Litecoin and Cardano more than 6%, Dogecoin almost 8%. Many operate at a minimum since February and March.
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