How low can the Bitcoin price go?
Bitcoin price is down 10% from its record high, and many analysts say BTC could drop lower as part of its routine consolidation phases.
Bitcoin (BTC) price has declined by more than 8% over the last four days after rallying to $72,000 at the end of last week.
Data from Cointelegraph Markets Pro andCoinbase shows that the BTC price fell from a high of $69,547 on June 11, dropping 4.5% to reach an intraday low of $66,680.
Bitcoin’s price drop coincides with a drawdown in the broader crypto market and the growing inflation fears in the U.S. The June 10 outflows from the U.S. Bitcoin exchange-traded funds (ETFs) are also exacerbating the downward pressure on BTC price.
Bitcoin price is down 10% from its record high, and many analysts say BTC could drop lower as part of its routine consolidation phases.
Bitcoin (BTC) price has declined by more than 8% over the last four days after rallying to $72,000 at the end of last week.Data from Cointelegraph Markets Pro andCoinbase shows that the BTC price fell from a high of $69,547 on June 11, dropping 4.5% to reach an intraday low of $66,680.Bitcoin’s price drop coincides with a drawdown in the broader crypto market and the growing inflation fears in the U.S. The June 10 outflows from the U.S. Bitcoin exchange-traded funds (ETFs) are also exacerbating the downward pressure on BTC price.Read more