Bitcoin's price fell below $61,000, leading to the liquidation of $124 million in long positions within 24 hours. This downturn was exacerbated by an announcement from Mt. Gox, which plans to repay creditors in July, adding to the selling pressure. Bitcoin's Relative Strength Index (RSI) indicates oversold conditions, suggesting a potential price rally. Analysts highlight critical support levels and upcoming macroeconomic events that could further influence Bitcoin's price movement.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
