Bitcoin slumps below $59,000 amid market uncertainty
Bitcoin’s (BTC) value dropped below $59,000 on Thursday, trading at $58,827.
Market data shows that Bitcoin has fallen 3.38% in the past day, reaching its lowest point since early May despite expectations of a price recovery. Rachael Lucas, a crypto analyst at Australia’s BTC Markets told The Block:
The fall below the $60,000 resistance line is significant as it marks a psychological barrier for many investors. […] If bitcoin remains below this level, we could see increased volatility in the short term.
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