Bitcoin traders risk-off as BTC price falls to $62K — Is a generational bottom approaching?
Bitcoin traders anticipate a potential price drop below $60,000. Will dip buyers show up?
Bitcoin (BTC) dropped by $2,300 one hour after the Wall Street opening on Aug. 2, reaching $62,368 on Coinbase. Bitcoin price has seen little change, rising 1% over the last 24 hours to trade at $63,252.
This sell-off has seen the price lose key support levels: the 50-day exponential moving average (EMA) at $64,300 and the 100-day EMA at $63,670.
“We got the #Bitcoin sweep I was waiting for and a nice reclaim of the range,” declared Bitcoin analyst AlphaBTC in an Aug. 2 post on X.
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Author: Nancy Lubale
