Tag: Support

How low Will Bitcoin Price go if $60K Support Fails?

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Bitcoin (BTC) is heading for its worst weekly performance since November 2022, down around 15% week-to-date as of Friday. BTC/USD weekly chart Source: TradingView BTC was trading near $62,500 after briefly dropping toward $61,000 earlier in the session. The roughly $1,500 rebound showed bulls are still trying to defend the psychologically important $60,000 support level. How low can Bitcoin go if it breaks below $60,000? Key takeaways: Bitcoin is testing its 200-week SMA near $61,800, a level that has historically acted as major cycle support. Analyst says $55,000 may be…

Bitcoin price crash puts $60K support back in the spotlight

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Bitcoin price traded near $61,925 on June 5 as selling pressure kept BTC close to the $60,000 support zone, with ETF flows, whale deposits, and weak sentiment driving the next market test. Summary Bitcoin price slipped near $61,925 as traders focused on $60,000 support after sharp weekly selling. ETF outflows and Strategy’s rare sale weakened confidence while AI-linked capital rotation added market pressure. Whale Binance deposits doubled in June, adding short-term selling risk as sentiment turned bearish fast. Bitcoin price nears $60,000 support Bitcoin price data from crypto.news showed BTC…

If XRP Price Loses This Current Support, This Is How Low It Will Go

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XRP has spent the better part of four months carving out a trading range with a series of contested highs and lows that kept both bulls and bears engaged.  That appearance of stability is now under serious threat, as the cryptocurrency has returned to the exact support level that anchored its range lows throughout the consolidation. XRP losing this support level will determine the next significant directional move. XRP Returns To The Same Range Low XRP’s price action on the daily candlestick timeframe chart shows the cryptocurrency is currently locked…

Zcash Fixes Critical Vulnerability As ZEC Holds $600 Support

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Zcash has patched a dangerous vulnerability in its privacy-focused infrastructure that could have enabled double-spending, deploying an emergency network upgrade to prevent exploitation. Related Reading Zcash Fixes Critical Bug With Emergency Upgrade On Wednesday, the Zcash Foundation revealed that developers had fixed a serious vulnerability in its Orchard shielded pool, which could have allowed invalid state transitions, potentially enabling double-spending within the pool. According to the report, Zcash researcher Taylor Hornby, who is conducting an ongoing protocol audit on behalf of Shielded Labs, discovered a critical soundness vulnerability in the…

$1.2B Liquidated as Bitcoin Tests $62.5K Support Amid Sharp Crypto Selloff

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Key Takeaways Coinglass recorded $1.12B in liquidations on June 3, with $949M from longs. Bitcoin hit $62,569 on Binance at 9:50 p.m. EDT on Wednesday, placing the $60K support zone in focus. Ethereum saw $252.9M liquidated as traders watch ETF flows and macro data. Data from Coinglass shows total liquidations reached approximately $1.12 billion over the last day, with long traders absorbing the overwhelming majority of the damage. Nearly $949 million in bullish positions were wiped out compared with roughly $169 million in short liquidations. The move came as bitcoin…

Ethereum’s Multi-Year Support Test Could Shape Its Next Big Move

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Ethereum is currently trading at a pivotal zone where long-term support and emerging bullish momentum are converging. With buyers attempting to defend a key multi-year trendline, the coming sessions could prove decisive for the asset’s broader outlook. A successful hold may set the stage for a powerful breakout, while failure could delay Ethereum’s next major rally. Ethereum Tests Critical Multi-Year Trendline Support After losing the $2,000 price mark, Ethereum continues to trend downward. However, recent analysis from World of Charts highlights that Ethereum has reached a critical technical juncture, currently…

Bitcoin miners face fresh pressure as BTC nears key support despite $1B May revenu

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Bitcoin miners have entered June with revenue above $1 billion for the first time in four months, but falling Bitcoin prices are already putting renewed pressure on mining economics. Summary Bitcoin miner revenue topped $1.08 billion in May, the highest level since January. Hashprice fell nearly 18% in a month as Bitcoin hovered near the $65,000 support zone. A projected 9% difficulty cut may ease pressure on miners if current conditions persist. According to data from Newhedge, miners generated $1.086 billion in revenue during May, the highest monthly total since…

Mastercard Unveils Stablecoin Settlement Support Spanning 8 Blockchains, Including The XRP Ledger

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Mastercard said Wednesday it plans to open its global card-settlement network to regulated stablecoins, a move designed to let card issuers and acquirers clear card transactions directly on-chain.  The company says the service will operate across eight different blockchains, extending on what it describes as “real-world utility” for digital assets. Alongside the expanded on-chain settlement approach, Mastercard also plans to introduce intraday, weekend, and holiday settlement cycles. Mastercard Moves Toward On-Chain Settlement In its announcement, Mastercard said the stablecoins include Tether’s rival, Circle, and its USDC stablecoin, which Mastercard noted…

Ethereum Hits 14-Week Low as Traders Defend Critical $1.8K Support

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Ether (ETH) dropped to $1,814 on Wednesday, its lowest in over 14 weeks, raising concerns about whether the ETH/USD pair can stabilize above key liquidity zones near its multi-year lows at $1,800.  ETH/USD 1-hour chart. Source: Cointelegraph/TradingView Key takeaways: Ether fell to a 14-week low near $1,800, with traders warning a breakdown could trigger deeper losses toward $1,200-$1,600. The Coinbase Premium Index hit its lowest level since February, signaling persistent weakness in US spot demand. Spot Ethereum ETFs logged sixteen straight days of outflows. Ether sits on weak support at…

Will Bitcoin lose $72K support as it enters a bearish channel amid ETF outflows?

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Bitcoin has entered a bearish channel after slipping below key support levels as ETF outflows, rising oil prices, and renewed geopolitical uncertainty weighed on market sentiment. Summary Bitcoin has fallen into a bearish channel as more than $2.4 billion exits spot ETFs, and traders defend the key $72,000 support zone. Rising oil prices above $90 and renewed U.S.-Iran military tensions have added pressure to risk assets, including Bitcoin. Analysts warn that a break below $72,650 could expose Bitcoin to further downside, with the next major demand zone between $54,300 and…