Summary
- The cryptocurrency analysis firm EGRAG CRYPTO analyzed that the next major support level for Bitcoin is in the $77,000 to $80,000 range.
- The current market suggests the possibility of a pattern similar to the past, which aligns with the potential downtrend and historical average loss rates.
- BTC is reported to be trading at $94,525.34 on Binance, down 1.59% from the previous day on the 28th.
According to the cryptocurrency media outlet CryptoBasic on the 27th (local time), the cryptocurrency analysis firm EGRAG CRYPTO, which has about 58,000 followers on X (formerly Twitter), analyzed that "the next major support level for Bitcoin (BTC) is in the $77,000 to $80,000 range where the CME gap exists."
He stated, "The ongoing turmoil in the market is sparking concerns about further declines," and noted, "Since October 2022, Bitcoin has experienced several crashes, with an average loss rate of about 23.5%."
He further explained, "The current market environment suggests the possibility of a pattern similar to the past. The potential downtrend aligns with historical averages."
Meanwhile, BTC is trading at $94,525.34, down 1.59% from the previous day, as of 01:07 on the 28th in the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
