{"id":589,"date":"2024-10-02T17:47:43","date_gmt":"2024-10-02T17:47:43","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=589"},"modified":"2024-10-02T17:47:43","modified_gmt":"2024-10-02T17:47:43","slug":"bitcoin-drops-below-62000-as-analysts-warn-of-potential-further-decline","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=589","title":{"rendered":"Bitcoin Drops Below $62,000 As Analysts Warn Of Potential Further Decline"},"content":{"rendered":"<div>\n<p>Following a 5% drop on Tuesday, <strong>Bitcoin <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) is down 0.3% to $61,680 on Wednesday afternoon, with analysts cautioning traders about potential further downside if <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41145355\/bitcoin-bulls-should-watch-this-crucial-level-10x-research\">key support levels don\u2019t hold<\/a>.<\/p>\n<p><strong>What Happened: Alex Kuptsikevich<\/strong>, senior market analyst at <strong>FxPro<\/strong> said a technical factor added to the selling: the day before, BTCUSD had fallen below its 200-day moving average, reinforcing the exit of \u2018weak hands\u2019 from the asset.<\/p>\n<p>Experts are closely watching the $60,918 level, which represents the 21-week moving average. <\/p>\n<p>According to a report, if Bitcoin trades below this level, traders should consider reducing their long positions.<\/p>\n<p>The cryptocurrency market as a whole has seen a significant correction, with the total market capitalization dropping 4.2% in the last 24 hours to $2.16 trillion. <\/p>\n<p><strong>Ethereum <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/eth\/usd\">ETH<\/a>), the second-largest cryptocurrency, is down 1.5% at $2,449.<\/p>\n<p>\u201cBitcoin found local support as it approached its 50-day moving average just above $60.3K. Geopolitics seem to have interfered with the bullish trade, pushing Bitcoin away from the upper boundary of the &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41147552\/bitcoin-drops-below-62-000-as-analysts-warn-of-potential-further-decline\" alt=\"Bitcoin\" drops below as analysts warn of potential further decline>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Following a 5% drop on Tuesday, Bitcoin (CRYPTO: BTC) is down 0.3% to $61,680 on Wednesday afternoon, with analysts cautioning traders about potential further downside if key support levels don\u2019t hold. What Happened: Alex Kuptsikevich, senior market analyst at FxPro said a technical factor added to the selling: the day before, BTCUSD had fallen below [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-589","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=589"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/589\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}