Bitcoin fell 5% in a single hour overnight into March 3, dropping to its lowest levels in over two weeks, data from Cointelegraph Markets Pro and TradingView shows, as cryptocurrency markets reacted to Silvergate bank's liquidity and BTC bulls failed to defend already weak support. For some traders, the leg down for Bitcoin was already only a matter of time, as BTC price action has spent weeks trying and failing to overcome resistance above $25,000. Pseudonymous trader Credible Crypto noted in an update that the target support price lies around the $20,000 mark — a key psychological level originally reclaimed as support in January. "If they fail to, then my downside target will be met sooner rather than later," the trader said. |
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