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Cryptocurrency market activity persists into the evening, with BTC price movements continuing to make an impact following recent highs. While many are considering the possibility of a correction after the rise, others are curious about where BTC will turn around.
Did Bitcoin Drop to $59,000?
As of writing this article, we see that the Bitcoin price has retreated to the $59,000 level. Bitcoin then recovered slightly, with the BTC price trading at $62,187 at the time of writing.
Today, an analyst from X shared that Bitcoin’s drop could go as low as $57,000. A further 7% decrease in Bitcoin’s price would reach the level indicated by Crypto Faibik.
What Can Be Expected Next?
Considering the volatile nature of the cryptocurrency market, absolute rises or falls are not guaranteed. BTC is expected to continue its journey after completing its correction. However, the process will undoubtedly be a rollercoaster ride.
During this volatile period, it is in investors’ best interest to avoid leveraged trades. The market moves very quickly, which can lead to liquidations in both long and short positions. The liquidation of approximately $830 million in the last 24 hours reflects this volatility.
