10x Research: Support level broken, sellers rushing to seek liquidity, price decline may accelerate

ChainCatcher message, 10x Research pointed out in the latest market report that Bitcoin has fallen below the important technical and psychological level of $60,000. This is a key level for Bitcoin miners and Bitcoin spot ETF buyers, and it roughly marks the bottom (support level) of a three-month trading range.

With the support level broken, sellers are scrambling for liquidity, and the price may accelerate downward. Only uninformed traders would be willing to buy here. A break below this support level could lead to a sharp decline in price to below $50,000.