Bitcoin traders say “the bottom is in” even as BTC price retests the 200-day moving average and threatens to descend lower.
The Bitcoin (BTC) price continued its correction on July 4, dropping 3.34% in the last 24 hours and 5.82% in the last week.
Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin dropped to a one-month low of $56,709 after losing the key support provided by the psychological $60,000 level.
Meanwhile, the total market capitalization has dropped by 4.23% over the last 24 hours to rest at $2.13 trillion at the time of publication. The 42% leap in the total trading volume is testimony to the sell-side intensity in the crypto market.