{"id":615413,"date":"2024-06-11T13:30:52","date_gmt":"2024-06-11T13:30:52","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=615413"},"modified":"2024-06-12T09:27:31","modified_gmt":"2024-06-12T09:27:31","slug":"bitcoin-crash-below-67000","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin-crash-below-67000\/","title":{"rendered":"Bitcoin Crash Below $67,000 Sends Market Spiraling, Here Are The Levels To Watch"},"content":{"rendered":"<p class=\"p2\">The <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-set-for-further-decline-as-bearish-sentiment-intensifies\/\">new week has been quite bearish for bitcoin<\/a>, with the price witnessing major crashes below multiple support levels. After losing its footing above $71,000, it has plunged further below $67,000, signaling the start of a downtrend. Amid the uncertainty, a crypto analyst has presented the important levels to watch as Bitcoin makes it descent, showing a possible direction for the price.<\/p>\n<h2 class=\"p2\">Bitcoin Enters Sideways Consolidation<\/h2>\n<p class=\"p2\">In an analysis on the TradingView platform, crypto analyst Bitcoin Signals revealed some important developments for the Bitcoin price. The first observation is the fact that the coin has entered a consolidation zone on the 4-hour chart. This <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin-price-falters-68k\/\">consolidation is currently taking place between $67,000 and $72,000<\/a>, an area that the price is currently skirting around.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/ripple\/xrp-price-rally-50000-to-250\/\">Crypto Analyst Predicts XRP Price Will Rally 50,000% To $250, Here\u2019s When<\/a><\/div>\n<p class=\"p2\">As a result of this development, the crypto analyst believes that short-term correction is forming for the cryptocurrency. This is behind the drop in price, and since then, <a href=\"https:\/\/shenyangcang.com\/news\/ready-to-strike-bitcoin-poised-for-a-big-move-after-major-consolidation\/\">the BTC price<\/a> has broken down below important support levels such as $69,200, and on Tuesday morning, bears were able to pull the price below $67,000 after breaking below the support zone of $67,200 identified by Bitcoin Signals in the analysis.<\/p>\n<p class=\"p2\">The crypto analyst further pointed out that the price could continue to move inside this range, which is where the correction is forming. However, there has been a falling wedge pattern that has been forming through the breakdown. According to the analyst, <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin-next-top-89200-crypto-analyst-suggests\/\">this could see the Bitcoin price break out<\/a> of the $69,200 resistance once again and make another run for $72,000.<\/p>\n<p class=\"p2\">Based on the analysis, the crypto analyst believe that the price could continue to correct downward unless it\u2019s able to break resistance at $72,000. Bitcoin Signals based this on the \u201ccurrent market structure and price behavior following a clear breakout on the long-term chart,\u201d suggesting a continuation of the decline.<\/p>\n<h2 class=\"p2\">BTC Price On The Charts<\/h2>\n<p class=\"p2\">Selling pressure is currently dominating <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin-metric-3-month-downtrend\/\">the Bitcoin price<\/a>, as evidenced by the direction of the cryptocurrency while seeing an uptick in major metrics. For example, CoinMarketCap data shows that the daily trading volume of BTC is up 89.85% in the last day. However, with the price going down, it suggests that this increase in volume is being caused by sellers rather than buyers.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/arbitrum\/arbitrum-dao-216-million-funding\/\">Arbitrum DAO Agrees To Distribute $216 Million In Funding \u2013 Here\u2019s What You Should Know<\/a><\/div>\n<p class=\"p2\">In the last 24 hours, the Bitcoin price has seen an almost 4% <a href=\"https:\/\/shenyangcang.com\/news\/hedge-funds-heavily-betting-bitcoin-to-fall-strategy-fail\/\">decline in price<\/a>, falling to the $66,700 territory. This has eliminated the majority of its gains from last week as the weekly chart shows a 3% decline. It has fallen to its lowest level in June, putting it on par with the May 2024 crash.<\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/XBvllfOl\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">BTC price falls to bears | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The new week has been quite bearish for bitcoin, with the price witnessing major crashes below multiple support levels. After losing its footing above $71,000, it has plunged further below $67,000, signaling the start of a downtrend. Amid the uncertainty, a crypto analyst has presented the important levels to watch as Bitcoin makes it descent, showing a possible direction for the price. Bitcoin Enters Sideways Consolidation In an analysis on the TradingView platform, crypto analyst Bitcoin Signals revealed some important developments for the Bitcoin price. The first observation is the fact that the coin has entered a consolidation zone on the 4-hour chart. This consolidation is currently taking place between $67,000 and $72,000, an area that the price is currently skirting around. Related Reading: Crypto Analyst Predicts XRP Price Will Rally 50,000% To $250, Here\u2019s When As a result of this development, the crypto analyst believes that short-term correction is forming for the cryptocurrency. This is behind the drop in price, and since then, the BTC price has broken down below important support levels such as $69,200, and on Tuesday morning, bears were able to pull the price below $67,000 after breaking below the support zone of $67,200 identified by Bitcoin Signals in the analysis. The crypto analyst further pointed out that the price could continue to move inside this range, which is where the correction is forming. However, there has been a falling wedge pattern that has been forming through the breakdown. According to the analyst, this could see the Bitcoin price break out of the $69,200 resistance once again and make another run for $72,000. Based on the analysis, the crypto analyst believe that the price could continue to correct downward unless it\u2019s able to break resistance at $72,000. Bitcoin Signals based this on the \u201ccurrent market structure and price behavior following a clear breakout on the long-term chart,\u201d suggesting a continuation of the decline. BTC Price On The Charts Selling pressure is currently dominating the Bitcoin price, as evidenced by the direction of the cryptocurrency while seeing an uptick in major metrics. For example, CoinMarketCap data shows that the daily trading volume of BTC is up 89.85% in the last day. However, with the price going down, it suggests that this increase in volume is being caused by sellers rather than buyers. Related Reading: Arbitrum DAO Agrees To Distribute $216 Million In Funding \u2013 Here\u2019s What You Should Know In the last 24 hours, the Bitcoin price has seen an almost 4% decline in price, falling to the $66,700 territory. This has eliminated the majority of its gains from last week as the weekly chart shows a 3% decline. It has fallen to its lowest level in June, putting it on par with the May 2024 crash. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":616515,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-615413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Bitcoin Crash Below $67,000 Sends Market Spiraling, Here Are The Levels To Watch<\/title>\n<meta name=\"description\" content=\"The new week has been quite bearish for bitcoin, with the price witnessing major crashes below multiple support levels.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/shenyangcang.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Crash Below $67,000 Sends Market Spiraling, Here Are The Levels To Watch","url":"http:\/\/shenyangcang.com\/news\/bitcoin-crash-below-67000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/bitcoin-crash-below-67000\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/Bitcoin-1-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/Bitcoin-1-1.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-06-11T13:30:52Z","datePublished":"2024-06-11T13:30:52Z","dateModified":"2024-06-12T09:27:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Crash Below $67,000 Sends Market Spiraling, Here Are The Levels To Watch\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-crash-below-67000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-crash-below-67000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin-1-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin-1-1.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-06-11T13:30:52Z\",\"datePublished\":\"2024-06-11T13:30:52Z\",\"dateModified\":\"2024-06-12T09:27:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/Bitcoin-1-1.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/615413"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=615413"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/615413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/616515"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=615413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=615413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=615413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}