Bitcoin traders brace for sub $52K BTC price as crypto and macroeconomic headwinds intensify
Bitcoin traders appear to be throwing in the towel and coming to terms with the reality that BTC price could fall below $50,000 in the short term.
Bitcoin (BTC) price is trading 10% above the eight-month low of $49,577, reached on Aug. 5 and traders fear new lows under $52,000 could occur before a reversal takes place.
BTC/USD daily chart. Source: TradingView
On Sept. 6, Bitcoin extended the correction, dropping more than 5.9% from a high of 56,984 to reach an intra-day low of 53,613.
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Author: Nancy Lubale
