According to TechFlow, the latest report from the cryptocurrency data analysis platform CryptoQuant.com shows that Bitcoin has plummeted by more than 16% in the past 24 hours, falling below the support level of $57,000.
CryptoQuant noted that this breakout could signal a further drop in Bitcoin prices to $40,000. The report also highlighted that traders are currently facing the worst negative unrealized profit margin since November 2022.
