Bitcoin (BTC) $65,000 support could end the crypto crash, what are the main reasons?

The entire cryptocurrency market is falling, and the price of Bitcoin remains trapped near the $65,000 support. Investors are eyeing the all-time high price, and a rebound from here could revive the bull market frenzy.

Highlights

Bitcoin has struggled to recover after the plunge triggered by the June FOMC meeting. The $65,000 support level looks strong, but it is too early to rule out a further drop to $63,000.

The total cryptocurrency market capitalization fell another 2% to $2.48 trillion. This gloomy outlook reflects that the wave of selling continues to ravage retail investors' portfolios, leaving only disappointment. The price of Bitcoin fell to $64,800, the support level near $65,000. With the uncertain outlook for cryptocurrencies, it is too early to tell whether BTC will rebound from this level or retest $64,000 or even $60,000.

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