Crypto risks 'elevated,' Bitcoin's next price support is below $14k, Ethereum's is below $500 – Fairlead Strategies
— World, Crypto meltdown, Initial resistance, Next support, 363 ," stockton said, Newly oversold, Intermediate, Usdc stablecoin, Singapore, Short — 1 min read
Bitcoin's price action has been fairly muted as the world's largest cryptocurrency is grasping at straws to hold the $20,000 level following June's selloff. If this support level fails, it could open the door to $14,000, according to Fairlead Strategies. The overall market cap down at $946 billion on Wednesday, making things worse were reports that crypto hedge fund Three Arrows Capital (3AC) has fallen into liquidation. At the time of writing, Bitcoin was trading at $20k, largely flat on the day after briefly falling below $20K overnight. Bitcoin doesn't seem to have the trend on its side to hit that level in the short term, but it will likely take several months for a long-term oversold signal to register. Source