Cryptocurrencies
Bitcoin’s New Floor Is $30,000 as 50% Rout Destroys Old Supports
- Decline is significant now so it’s more of a concern: Peters
- Fed tightening path bringing liquidity out of system: Felman
This article is for subscribers only.
Bitcoin’s plummet has pushed it through just about every recent technical support level, forcing traders to now consider $30,000 as the next line in the sand.
The world’s largest digital asset is mired in its sixth straight day of declines, with the token down roughly 20% over the past seven days. It’s now 50% below its November peak and was trading as low as $32,970 on Monday, the lowest since July.