Bitcoin(BTC) Surrenders $55,000 Support Zone
CryptoNewsTerminal Staff06 Sep, 2024
Bitcoin(BTC) Surrenders $55,000 Support Zone
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has surrendered the $55,000 support zone. According to CoinMarketCap, BTC is currently trading at $54,966.68 on the Binance USDT market. This decline comes after BTC reached a new all-time high of $58,330.75 on February 9th. However, the cryptocurrency has been under pressure in recent days, as investors have taken profits and concerns have grown about the sustainability of the current bull market. It remains to be seen whether BTC can regain the $55,000 support zone. If it does, it could continue its upward trend. However, if it fails to do so, it could fall further and test the $50,000 support zone.
