Veröffentlicht: 03.06.2020

Free fall! BTC cannot maintain level

Bitcoin falls below USD 10000 mark

The jump over the magic 10000 USD border caused a sensation in the crypto space on Tuesday. But the joy does not last long. After a few hours the cops lose control and the BTC has to record an enormous relapse. Now the focus of the investors is directed towards a well-known resistance. We take a look at the current events in the crypto space.

Bitcoin price in detail

After the sudden drop in value, the No.1 crypto currency is going into a small sideways movement on Tuesday. The trading volume of nearly $30 billion shows that investors are once again adopting a passive stance. In this highly volatile market, calm and calculation could turn out to be profitable features. Bitcoin is currently traded at a price of USD 9595. According to this, the showdown will again take place at a well-known resistance.

The important trend line at 9600 USD

From a bullish perspective, the trend line at 9600 USD forms the next resistance level. Further up, there are few remaining obstacles to a breach into the five-digit USD range. However, the purchasing power is currently missing. On the downside, the trend line at 9400 USD forms the next support level. However, yesterday we saw how quickly prices can drop into the four-digit USD range.

BTC’s worth 450 million liquidated

Yesterday, as a result of the heavy dumping, BTC units worth around USD 450 million were liquidated. This is the result of an article published by cryptopotato.com The authors again refer to data from Bybt. The figures show how much capital is currently being pumped into futures contracts. Meanwhile, the price even rattled below the USD 9000 mark yesterday, Wednesday.

BTC dominance at below 65

The alternative assets are taking back smaller market shares on Wednesday. Coins such as Cardano (+7.47%) and Litecoin (+4.21%) are again attracting attention. In the shadow of the first mover, hard work is being done on many projects. The fate of the Altcoins depends on groundbreaking projects like “Ethereum 2.0”. At the moment the BTC Dominance Index is at a value of 64.9 %.

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