Traders brace for a drop to $58K if Bitcoin price loses the $62K support By Cointelegraph


© Reuters.

Whipsaw price motion has returned to the cryptocurrency market after Bitcoin’s (BTC) price misplaced steam at $67,100 and retracted to the $62,000 stage.

An early morning 87% flash crash in the price of BTC at Binance US noticed the price briefly contact $8,200 and it could have set the market on edge, however usually, it seems to have been an remoted occasion. Data from Cointelegraph Markets Pro and TradingView present that bears have briefly taken management of the market with the price now fluctuating between $62,000 to $63,500.

BTC/USDT 4-hour chart. Source: TradingView
1-day chart. Source: Twitter (NYSE:)