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.
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.
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 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.
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.
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.
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