Cryptocurrency markets were trading lower in today’s trade, dragged by Bitcoin, Solana, and Dogecoin. Meanwhile, the global cryptocurrency market cap declined 0.7% to around $2.48 trillion in the last 24 hours.
Bitcoin falls below $67,000
“Bitcoin has been rejected on the retest of its upward trendline at $67,000 and will likely head towards $64,000 for strong support. Speculations of a sell-off of a large stash of BTC by the US government is driving current bearish sentiment,” said Vikram Subburaj, CEO of Giottus.
“For Bitcoin to push for $70,000 again, inflows into ETFs have to materially increase, similar to early March. The narrative behind the upcoming halving can also potentially drive its short-term adoption,” Subburaj said.
CoinDCX Research Team, said, “In the past 24 hours, BTC and ETH traded sideways while many altcoins experienced a decline. BTC remained range-bound, with significant liquidation levels at $67,000 and $64,000. It’s anticipated that BTC will need to surpass these levels before making any significant moves.”