Bitcoin, Ethereum Technical Analysis: BTC Falls Below $30,000, Is 55% Below Its Record High

Bitcoin, Ethereum Technical Analysis: BTC Falls Below $30,000, Is 55% Below Its Record High


Bitcoin plunged below $30,000 for the first time in eleven months, as bears continued to run rampant in crypto markets. This move came as Luna Foundation Guard was said to be liquidating close to $1.5 billion worth of BTC. Ethereum also fell to multi-month lows, as prices hovered slightly above $2,200.

Bitcoin

Bitcoin fell for a seventh consecutive session, as markets reacted to the news that the Luna Foundation Guard was to deploy $1.5 billion of BTC, as it hoped to regain its $1 UST peg.

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The latest decline in BTC/USD saw prices hit an intraday low of $29,944.80 earlier in today’s session, following a peak of $33,312.81 on Monday.

Today’s bottom is the lowest level prices have traded since June 2021, and comes as

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