Bitcoin Falls Below $30,000
source link: https://www.trustnodes.com/2021/01/27/bitcoin-falls-below-30000
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Bitcoin has fallen below $30,000, dropping another circa 10% since yesterday on what appears to be falling volumes as pictured above.
The currency is currently at its big support level with it to be seen whether it can maintain it.
Ethereum seems to be holding out a lot better. Defi bullishness is keeping it from following bitcoin too closely.
Eth in turn seems to be putting breaks on bitcoin, with bitcoin somewhat struggling to fall.
This may be just consolidation that has been going on for much of this month as bitcoin continues its price discovery.
A small part may be profit taking for GME bullishness, but that is likely to be very temporary especially as many of those GME profits might make their way back to bitcoin.
Some of that bitcoin has probably been going to eth as well because the latter seems to be more bullish, but this back and forth between eth and bitcoin is just part of the concert.
The biggest question for now is where it might bounce and how far, with bitcoin awaiting the “monster expiry” this Friday.
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