Reasons Why Bitcoin Suddenly Dropped To $61k Price Region Bi | Ghalvi-trader on Binance Square

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Reasons Why Bitcoin Suddenly Dropped To $61k Price Region
Bitcoin's recent drop to $61,000 price range raises concerns amidst ongoing market volatility and macroeconomic uncertainties. Analysts warn of potential further declines, raising concerns over the cryptocurrency's immediate future

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Binance Delists 4 Altcoins: Tokens Tumble Double-Digit Crypto exchange Binance has announced it will no longer support four altcoins — BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastar (POLS). Effective July 22 at 03:00 UTC, it will delist these altcoins, causing a sharp drop in their market value.

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Bitcoin Rainbow chart predicts BTC price for end of 2024 There has been no small amount of uncertainty surrounding Bitcoin (BTC) for approximately a month. After a significant climb in the initial months of 2024 and a new all-time high (ATH) just above $73,000 in March, the world’s premier cryptocurrency found itself in a strong downtrend in June and early July. While the decline is widely considered to be at least partially driven by a convergence of events – including the German government’s plans to offload seized BTC and the long-awaited repayments by the collapsed crypto exchange Mt. Gox – the fact that Bitcoin has crashed through multiple support zones has left many investors wary. Though BTC remains 32.44% in the green in the year-to-date (YTD) chart, it has fallen nearly 20% in the last 30 days of trading and is 23.09% below its yearly – and all-time – highs.

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Bitcoin set for biggest weekly fall in a year Bitcoin was set for its biggest weekly fall in more than a year on Friday, as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt Gox and further selling by leveraged players after the cryptocurrency’s strong run. The price of the world’s largest cryptocurrency slid as much as eight per cent on the day to $53,523, its lowest since late February. It was on track for a more than 12 per cent weekly decline, its biggest since Nov 2022. Rival token Ether slid nine per cent to $2,841 to more than a two-month low.

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