After a week of bullish optimism around Bitcoin, the Cryptocurrency has experienced a new shock amid geopolitical tensions. BTC dips to $ 64,000 on the last day of the month, down 6% in 24 hours. The asset has hit its lowest since February, near $63000. Altcons also react bearishly to this.
This reaction came suddenly after the Israel-US joint strikes on Iran. The Wall Street Journal reported the declaration of an immediate state of emergency by Israeli Defense Minister Israel Katz, and a claim by US officials about their participation.
Is this going to drag Bitcoin to $60K and below?
Bitcoin never closed 2 months red before
Crypto Markers Bleeds,
Just a few minutes of the News, a whopping $100 million long crypto positions were closed. An estimate of $136.98 million total liquidation in an hour.
Major altcoins like Ethereum(ETH) feel over 7% below $1900, BNB falls 5% to $595, XRP lost to $1.2 for 8%, Solana dips 9.8% to $78, Doge coin dropped to $0.08944 ( 10%), Cardano ( ADA) to $0.2650 to 8.72%, all losing their key support levels.
Etherem to its selling level
BTC/USDT 1-hour shows retracement signs.
The BTC/USDT analysis shows a change of character (CHoCh) after registering the second hourly red candle. Changing the momentum to Bearsish.
As seen, there is a selling zone in $65,857 to $66,336 that will retract and then continue the bullish walk respecting the second bearish candle. $60K can be seen after successful retracement.
If fundamental momentum shifts, the selling zone will turn int Demand zone for further liquidity injection. Critical watch for Bitcoin.