BTC Drops to Lowest Since December 2020 – Market Update Bitcoin News

Bitcoin dipped below $30,000 for the second time this week, but today’s slump took the price to its lowest level since December 2020. bitcoin It hit a low of around $26,000 on Thursday, while Ethereum It fell below $2,000 for the first time in more than a year.

bitcoin

After a slight rebound on Wednesday, bitcoin It fell back into the red on Thursday as cryptocurrency bears continued to run rampant in the market.

bitcoin/USD fell to an intraday low of $26,350.49 earlier today, less than 24 hours from a trading peak of $31,868.30.

Today’s bottom is the lowest level Bitcoin has touched since December 2020, as the market climbed above $30,000 for the first time.

Bitcoin, Ethereum technical analysis: BTC falls to lowest point since December 2020
bitcoin/USD – daily chart

The latest wave of crypto bears comes as LUNA has fallen further over the past day and is currently trading below $0.10.

USDT It also lost parity with the U.S. dollar today, leading to more volatility in the crypto market, with traders liquidating positions.

Looking at the chart, the 14-day RSI is now at 23, still near a 5-month low. However, the bears could still try to push it towards 19.

Ethereum

Ethereum It also fell in today’s plunge as bearish pressure pushed the world’s second-largest cryptocurrency below $2,000.

After peaking at $2,421.12 during yesterday’s session, Ethereum/USD fell to an intraday low of $1,748.30 on Thursday.

As a result of the sell-off, prices fell 18% today to their lowest point since March of last year.

Bitcoin, Ethereum technical analysis: BTC falls to lowest point since December 2020
Ethereum/USD – daily chart

The price has since attempted to climb back above $2,000, Ethereum It is now at $1,993.19 as some bulls try to create a solid bottom near $1,930.

as bitcoinRelative Strength Ethereum It also fell to multi-month lows on Thursday and is now trading below 25.

With prices so oversold, the bulls may still be keen to re-enter the market once the real bottom line is finally found.

can we see Ethereum Continue to slide, possibly to $1,500? Leave your thoughts in the comments below.

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.




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