The leading cryptocurrency lost more than 22% of its value in the last 30 days, while its market cap shrank from $750 billion to the current value of $569 billion.
This session, the rest of the altcoins trade mixed. Thus Solana falls 2.7% while Cardano recovers 4% since the collapse it suffered on Wednesday.
What will happen to the price of Bitcoin
For analyst Jan Wüstenfeld, Bitcoin accumulation continues by long-term holders. However, this is not enough to push prices to new heights.held.
“If we analyze with the Liquidity Pools tool, and we activate where the areas are located where the leveraged will lose 10x in short, we can see that the price could reach US$33,200”said analyst Iván Paz.
“After liquidating all the shorts in the market, we could expect a rebound to the downside, to seek stability in a new price range and start the liquidation cycle again”he added later.
Source: Ambito
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