XS.com warns Bitcoin could fall 15% to $70,000 if $82,500 support breaks

Bitcoin traded just above $82,500 on Wednesday, a level identified by Simon-Peter Massabni, head of business development at XS.com, as the cryptocurrency’s most critical support zone. The market’s attention has turned to whether this support will hold, as broader risk assets showed renewed strength following strong corporate earnings and rising oil prices. Bitcoin’s price movement continues to mirror that of major US technology stocks. Last week, Bitcoin dropped in tandem with the Nasdaq after hotter-than-expected US inflation data and a pullback in both AI and semiconductor equities. Massabni emphasized that the links between Bitcoin and the tech sector are tightening.

Also reported by Cointribune.

Source: CoinTurk News