Analyst Justin Bennett is highlighting how Bitcoin and the crypto markets can recover from a sudden correction that shaved off nearly $400 billion worth of its market cap.
According to data from CoinGlass, over $882,000,000 in liquidations were triggered in a 24-hour span when Bitcoin corrected roughly 10%, bringing the rest of the market down with it.
Bennett tells his 89,000 Twitter followers that if Bitcoin loses the $60,000 level, a further plunge to $53,000 is on the table.
“Looks like yesterday’s BTC bearish engulfing candle was a sign.
Not sure if we’re out of this just yet, but there’s a lot of support around $60,000.
I’ll look to $55,000 unless Bitcoin can reclaim $63,300.”
Source: Justin Bennett/Twitter
Additionally, the analyst notes that crypto prices