Bitcoin witnesses a massive price drop in the last 24 hours, but there are chances of a full recovery.
- Bitcoin’s price was about to reach a crucial support level.
- Most metrics hinted at a price increase soon.
Bitcoin [BTC] witnessed a price correction in the last 24 hours. A major reason behind this could be the rise in liquidation.
Nonetheless, BTC was approaching a crucial support level from which it could make a trend reversal in the coming days or weeks.
Why Bitcoin is down
CoinMarketCap’s data revealed that BTC was down by more than 3% in the last 24 hours. At the time of writing, BTC was trading at $60,862.71 with a market capitalization of over $1.2 trillion.
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