The price of Bitcoin (BTC) has lost more than 10% in the last 24 hours, worrying many cryptocurrency investors. This sudden drop has raised concerns about the future of the cryptocurrency market. Bitcoin’s failure to break above the critical resistance level of $68,000 has started a significant downtrend. The price continued to fall, breaking the $60,000 support level and the 200-day moving average around $61,000. Currently trading at around $50,000, Bitcoin is at risk of testing the $48,000 support level.
According to the daily timeframe charts, Bitcoin’s failure to break the $68,000 resistance level has triggered a significant downtrend. The 4-hour chart shows an almost vertical decline after the $60,000 support level was broken. This decline became even more pronounced by falling below the July low of $54,000. The RSI indicator is giving oversold signals, indicating the possibility of a consolidation above the $48,000 support level in the short term. The futures market played a significant role in Bitcoin’s recent price crash; a large long liquidation contributed to the free fall in price. This clearly showed the difference in aggressiveness between buyers and sellers on the funding rate metric chart. The recent crash revealed the lowest funding rate seen in 2024.
It is important to closely monitor the $48,000 support level and pay attention to the behavior of funding rates. When RSI signals indicate oversold conditions, short-term recovery possibilities should be evaluated. This sharp drop in Bitcoin’s price may have shaken investor confidence, but oversold signals on the daily and 4-hour charts suggest that the market could soon stabilize. Despite the current downtrend, the possibility of a short-term recovery should not be ignored. If Bitcoin manages to stay above the $48,000 support level and funding rates increase, a period of consolidation and even a V-shaped recovery could be seen.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.
Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAILED.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
When you do what I say in order, you will receive 10 USDT.
Go to the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.
It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.
WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.
