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Traders say Bitcoin’s drop to $57K is an ‘attractive entry’ for hodlers
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Bitcoin price dropped to fresh lows today and the brief visit to the $56,000 level resulted in a sharp sell-off in Ether and altcoins.
Data from Cointelegraph Markets Pro and TradingView shows that support at $60,000 was breached early on in the U.S. trading session and this allowed bears to briefly take control of the market.
Here’s what analysts have to say about today's price action and whether or not traders should be concerned about additional downside.
According to a recent report from cryptocurrency research firm Delphi Digital, “the initial sell-off was largely driven by a wave of liquidations rather than a fundamental shift in narrative,” which suggests that there is a possibility that this pullback will be short-lived and
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