Bitcoin price fell further due to Mt. Gox repayment
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#Bitcoin recently peaked near its all-time high at $73,700 in March but failed to sustain above $70,000.
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Following this, BTC retraced nearly 10%, briefly dipping below $60,000, its lowest since early May, before recovering.
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It saw a notable price decline from $64,500 to a low of $58,456 over the past two days.
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Despite this, Bitcoin has rebounded to hover around $61,000 as bulls regained momentum.
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A sharp drop occurred following news from the Mt. Gox trustee regarding upcoming BTC and BCH payouts in early July.
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German Government Initiates Large Bitcoin Sell-Off, Causing Anxiety in the Market.
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Bitcoin's failure to surpass key resistance levels has created a "double-top price pattern," indicating there could be a drop to around $50,000
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According to Coin Gabbar analysis, The main question still remains unanswered: Will Bitcoin break through the $60,000 mark or not?
KEY LEVELS :
RESISTANCE LEVEL : $65,000-$70,000
SUPPORT LEVEL : $56,500-$52,500
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