Bitcoin’s price briefly dipped below a critical level for traders sparking fears that a further correction toward $60,000 might be on the horizon.
Bitcoin (BTC) recently fell below $64,000, breaking its short-term holder realized price and signaling a possible further decline to levels unseen in 4days, according to cryptocurrency analysis firm CryptoQuant.
“Bitcoin is trading below the critical support level of $65.8K, now below $64K,” CryptoQuant wrote in a June 21 X post.
“Falling under this threshold suggests a potential 8%-12% correction toward $60K,” CryptoQuant added, a level not broken since May 3, when Bitcoin was trading at $59,122, according to CoinMarketCap data.
