Coinbase's crash sent shockwaves through the cryptocurrency market, particularly impacting Bitcoin (BTC). Within minutes of the crash, BTC plummeted from $62,765 to $61,383, marking a 2.20 percent loss. This triggered panic among investors, with altcoins also experiencing significant declines.

Bitcoin's price has been heavily influenced by market news recently, and this incident was no exception. Following the Coinbase crash, BTC briefly surged to $62,000 before stabilizing. The current trading range suggests potential price levels of $62,757, $64,318, $65,452, and $67,107 if positive news emerges or interest in spot BTC ETFs increases.

However, Bitcoin faces risks of further decline due to large outflows from spot BTC ETFs, negative news flow, or a lack of excitement surrounding halving events. In such a scenario, BTC could drop to $60,613, $59,075, $57,353, and $56,550, with the range of $57,353 to $56,550 being particularly critical. A breach of this zone could trigger larger declines.

BTC's price movements will heavily depend on the news flow. Positive news could boost confidence and strengthen buyer positions, while negative news may increase sell-side transactions, further impacting BTC's price trajectory.

follow me for more signals and update

#ETHETFS #altcoins #BinanceLaunchpool #ETFvsBTC #MicroStrategy