BTC/USD – Potential for the further drop towards support zone [Video]
Breakout of the rising channel and potential for the further drop..
Author

Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
Breakout of the rising channel and potential for the further drop..
Author

Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
Ripple and Stellar show mild signs of recovery on Thursday after extending losses earlier this week. XRP is holding above the $1.10 level as bearish momentum begins to fade, while XLM has bounced modestly from a key support zone.
The broader cryptocurrency market maintains risk-off sentiment as Bitcoin lingers above $62,000. The mild recovery in BTC fails to lift the Fear and Greed Index, which at 15 continues to signal extreme fear among investors. Still certain altcoins, Curve DAO, World Liberty Financial, and Monero, have emerged as top performers over the last 24 hours.
Bitcoin's recent decline toward the $60,000 level has pushed the market further into bearish territory, with new investors suffering huge unrealized losses, according to a Glassnode report on Wednesday. The firm noted that Bitcoin's earlier May rally now appears increasingly as a "bear bounce".