Bitcoin (BTC) set a new record low price for 2022 on May 9 as crypto markets continued selling off prior to the Wall Street opening.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price sinks under $36,700
With the latest installment of a string of losses in May, the pair continued to trade under $33,000 at the time of writing, with weekly losses now at 15%.
“Bitcoin sweeping the lows here, that’s probably next liquidity,” Cointelegraph contributor Michaël van de Poppe told Twitter followers in one of several posts on the day:
“We could go towards $30-31Kish as that’s a daily block, but I’d be looking at longs around these regions.”
$30,000 forms a popular