Bitcoin Drawdown Analysis Maps a $74,500 Level if Losses Deepen

Bitcoin’s latest correction has brought a $74,500 historical reference into focus, a new analysis suggests. The comparison examines setbacks during broader advances as the contributor outlines two buying levels if selling continues. The latest pullback has brought a $74,500 downside reference into focus, according to an analysis published by Cryptoquant on Oct. 9. Contributor MAC_D used the cryptocurrency analytics platform’s historical bull market corrections to compare declines during bull markets, periods of broadly rising prices. The analysis measured a decline from $87,027 on Oct. 5 to $80,404 on Oct. 9, a $6,623 reduction, or approximately 7.61%.

Source: Bitcoin.com News