Bitcoin Drops Over 2% on July 4 as Key Support Line Faces First Retest Since October 2023

On July 4 bitcoin experienced a dip of over 2%, testing a key support line for the first time since October 2023. Data from Cointelegraph Markets Pro and TradingView revealed new local lows of $57,885 on Bitstamp following the latest daily close. This decline was driven by a lack of positive sentiment and consistent selling pressure from spot markets, creating a challenging environment for Bitcoin bulls. CoinGlass reported that 24-hour Bitcoin long liquidations approached $60 million at the time of writing. Popular trader Skew noted that BTC/USD had crossed its 200-day moving average (MA) for the first time in ten

Source: CryptoIntelligence