TL;DR
Bitcoin experienced steep volatility, causing $400 million in liquidations. Key support is at $37,150-$38,360, and resistance is at $43,850 and $46,400.
A 10% price drop was followed by a rebound from $40,000. Increased institutional accumulation and a high Money Flow Index indicate potential price growth.
Institutional interest in Bitcoin surged, with BTC holdings doubling in portfolios in 2023, driven by market optimism and prospects of regulatory advances and a Bitcoin ETF.
Bitcoin Rollercoaster Inflicts Pain on Leveraged Traders
The crypto market surprised traders this Monday and delivered a rollercoaster of price movements that were hard to stomach. The steep volatility triggered approximately $400 million in liquidations in crypto futures markets, destroying leveraged, long, and short positions alike.
Following this Monday’s correction, the trader warned its users that a more profound correction would find a “firm support zone” between $37,150 and $38,360.
In the case
We współpracy z: https://cryptopotato.com/amid-the-ongoing-bitcoin-correction-two-critical-support-and-resistance-levels-to-watch-analyst/
