BTC跌破59000美元

The market shows that BTC has fallen below $59,000, currently trading at $58,950.68, a daily decline of 7.9%. The market fluctuations are relatively large, please maintain proper risk control.

<p>The market shows that BTC fell below $59,000 and is now trading at $58,950.68, with a daily drop of 7.9%. The market is volatile, so please do a good job of risk control.</p>

BTC fell below $59,000.

Author: YASHU GOLA Source: cointelegraph
The price of Bitcoin continues to fall, down 1.5% intraday and 7.65% over the past week, reaching $62,130 on June 24. The chances of recovering these losses in the coming days seem slim, with several indicators hinting at further price declines ahead.
Will Bitcoin price fall to $60,000 next?
Since the March 2024 bull run to a new record high of around $74,000, Bitcoin has been consolidating within a descending parallel channel. Whenever Bitcoin...

Where will the Bitcoin price go? Can the $60,000 support level be maintained?

Odaily Odaily News 10x Research founder Markus Thielen said: "Technically, Bitcoin seems to follow a Double Top structure, and the support level is being tested. This chart form should be our base case (unless it becomes invalid). This pattern can easily fall to $50,000 or even $45,000." Thielen added: "The US election and CPI later this year should be bullish, but we may still experience a more severe correction." (CoinDesk)

Analysis: Bitcoin price action forms Double Top, could drop to $50,000

From the analysis of on-chain behavior, how far may BTC fall in extreme cases in the bull market?
The overall logic is to evaluate from two aspects based on on-chain behavior analysis and historical data.
Method 1: From the perspective of STH-MVRV (short-term holders)
Short-term holders are important participants in the bull-bear transition, so the performance of STH-MVRV has extremely important reference value in the bull market cycle. I have used 2 tweets to explain its principles and functions in detail. New friends can refer to the following link, and I will not repeat it here.
About STH...