What Can You Expect from the Bitcoin (BTC) Price in the Upcoming Couple of Days!

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Bitcoin price slashes below $30,000 for the first time after the July 2021 crash, registering a nearly 25% drop since the beginning of May’s trade

The massive sell-off is said to be the outcome of LUNA Foundation Gaurd emptying their BTC wallet in order to back their trembled UST that was de-pegging and crashed below $0.7

This led to a massive $1 billion liquidations in the past 24 hours while a huge amount of BTC flooded the exchanges

Presently, BTC’s price has regained its position above $31,500 but still appears to be in a pretty trembled condition as it got rejected at $32,658.

On the other hand, the levels between $31,616 and $32,560 are one of the crucial resistance for the asset, as nearly 105.66K BTC have been bought by 266.03K addresses. And hence if these levels are broken, the price is expected to get rejected

Therefore, the BTC may remain highly consolidated below these levels, until it gets a larger boost to surpass the $32,600 levels

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Sahana Vibhute May 11, 2022

1 minute read

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.