ogsandip
@ogsandip
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243 Followers
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Main move of 120 days consolidation still has not came yet 👀
Bitcoin sell-off intensifies, dragging down crypto-related stocks
IOT, MARA, and CLSK declined over 2% while other cryptocurrency-related stocks such as MicroStrategy (MSTR) and Coinbase (COIN) decreased by 1.5%.
Crypto-linked stocks retreated as Bitcoin resumed its downward trend on Wednesday. After climbing to $63,750 on Monday, BTC is now fluctuating around the $60,000 mark, and its future movement is uncertain.
Crucially, Bitcoin is teetering near the vital support level of $58,273, which corresponds to the 200-day Exponential Moving Average (EMA). The next support threshold for Bitcoin is $56,426, marking its lowest point in May.
A drop below this level would indicate that the bears have taken control, potentially pushing Bitcoin down to the $50,000 level or even lower. 0 reply
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