Bitcoin plummeted below $64 thousand: the fall continues
As of the evening of 5 February, the rate of the first cryptocurrency dropped by more than $9 thousand per day, which was one of the most notable short-term declines in the recent period. The market is showing increased volatility, and the pressure from sellers remains.
What's happening in the market
The sharp decline in price is accompanied by a general downturn in the crypto market. Investors are taking profits after the previous growth, as well as reacting to macroeconomic factors and sentiment in the financial markets.
Analysts note that further dynamics will depend on:
behaviour of large investors and funds;
news on the regulation of cryptocurrencies;
the overall situation in the global financial markets.
Will the fall continue
Despite the sharp decline, some experts believe that it technical correction after a period of growth. At the same time, others warn of the risk of further decline if the support level below $60 thousand does not hold.
The market remains volatile, and short-term fluctuations may persist in the coming days.
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