Bitcoin (BTC) fell below $60,000, erasing June gains and activating bearish technical patterns like a rounded top and bear flag breakdowns. These setups, supported by MVRV bands, project a potential further decline to the $54,000 mark in the coming days.
Bitcoin fell below $60,000 on Thursday, a key psychological level, due to losses in tech stocks impacting crypto market sentiment. Technical analysis suggests a potential drop to under $54,000, supported by on-chain MVRV bands.
XRP is exhibiting multiple bearish chart patterns, including head-and-shoulders and bear flags, suggesting a potential drop below $1. On-chain data also indicates weak demand, with targets around $0.99 and $0.94.
Bitcoin price action risked repeating January's breakdown despite April being poised to offer the best monthly BTC price gains in a year.
