Bitcoin (Bitcoin) Fell below $64,000 on November 12, as its fall from a record high continues to be disturbing.
BTC: Consolidation becomes a downward trend
Data from Cointelegraph Markets Pro with Transaction view The liquid market conditions were captured on Friday, and the fluctuation range of BTC/USD was $2,000.
The couple spent the day before Horizontal tracking -Now showing signs of collapse.
However, for popular analysts, this BTC price trend is not only expected, but also welcome.
sideways:)
— Willy Woo (@woonomic) November 12, 2021
“In my opinion, some consolidation after falling to 59-61k will be the best way to continue the bull market,” Twitter trader Galaxy Add to.
“It may not happen, but it is very healthy for both $BTC and alts. Be prepared either way.”
Funding rate Except for Binance and Bybit, the exchanges still maintained small gains, further suggesting that there may be a potential price drop.
At the time of writing, BTC/USD fluctuated below the $64,000 mark and fell by $1,000 in an hour candle.
Altcoins face greater losses
The altcoin market has a similar story, Ethereum (Ethereum) Matches Bitcoin’s daily loss of approximately 2%.
Several of the top 10 cryptocurrencies by market capitalization have fallen by 6% or more, including high-flying Solana (SOL) and Polkadot (DOT).
As a result, the overall cryptocurrency market value fell below the $3 trillion level after hitting it for the first time earlier this week.
