Bitcoin fell by $1,000 in five minutes, and fell below $60,000

Bitcoin (Bitcoin) Fell sharply on October 27th, as $60,000 finally gave way to a two-week low.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Bitcoin enters the main purchase Walmart

Data from Cointelegraph Markets Pro with Transaction view At the time of writing, BTC/USD is close to $58,000, hitting its lowest point since October 15.

The action is as follows Multiple retests At $60,000, Bitcoin is now absorbing liquidity in a large support wall based on $57,000.

Analyst, as Cointelegraph Report, Is ready, some data indicate that a deeper drop to the low of $50,000 will still maintain the overall bull market trend.

At the same time, when Charles Edwards, the CEO of the investment company Capriole, commented on the situation, he accused leveraged traders of causing volatility.

“Basically Bitcoin looks incredible on most indicators, but leveraged traders have lost control,” he said debate.

“Until this situation changes, we will not get a sustainable price increase.”

data show 500 million US dollars were cleared through cryptocurrency in one hour.

Altcoins have suffered heavy losses due to trend reversals

Ether (Ethereum) Wednesday caused altcoins to bleed and fell below the hard-won USD 4,000 support line.

ETH/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

related: Expanding the ecosystem and $1.86B futures open interest support Solana’s $250 target

Among the top ten cryptocurrencies by market capitalization, several have fallen more than 15% daily, including Dogecoin (dog) And Solana (SOL).

Shiba Inu (SHIB) is still basically in a green state, although the market has improved and continues to rise, it still rose by 23% that day Wild moon.