What’s going on in the crypto market, which is collapsing with large volumes of sales by companies, liquidity problems in exchanges, and regulatory pressures?
BTC, which lost more than 7 percent in value in two days, continues to strike fear in the industry. BTC, which has experienced such decreases in its previous periods, has had a different effect on altcoins this time. Large amount of companies exit from altcoins, SECadding new altcoins to the securities list, and stock markets fighting with liquidity, led to a drop of more than 20 percent across the altcoin market. So what is the current situation for Bitcoin (BTC)? Can BTC push itself to the top and give altcoins confidence?
Critical Levels for Bitcoin (BTC)
BTC, which fell by 7.07% in a few days, clearly shook altcoins. BTC, which was withdrawn from $ 26,800 by being rejected, touched $ 25,500 due to large sales of institutions, SEC sanctions and liquidity problems in exchanges. BTC, which has been hanging below this point in the past days, has created a danger for altcoins this time.
In order for altcoins to breathe a sigh of relief, the resistance levels that must be overcome in BTC are 26,500 – 27.255 – 28.198 – 28.775 and 29.259 dollars. The values that can be followed as support are $ 25,257 and $ 24,856. Especially if the price does not hold at $25,257, it could drag the crypto ecosystem into a long-term decline.
