Bitcoin price dropped 4% to $ 22,400 after the all-time highs over the weekend.BTC dropped below a baseline level to maintain upside movements with volatility reappearing in Monday trading.
After its all-time highs over the weekend, the Bitcoin price fell 4% to the $ 22,400 price level.
Bitcoin (BTC) lost its support of $ 23,000 on December 21, and Monday’s transaction saw a long-awaited correction take shape.
BTC price at $ 22,800
BTC / USD recovered from the lows of $ 22,410 at the time of writing to $ 22,800.
The move confirmed suspicions among analysts that Bitcoin should retreat after a week of nearly steady gains. Traders are currently watching $ 20,000, which indicates that the order book data is acting as a potentially difficult level of support.
At the beginning of last week, the leading cryptocurrency was below $ 19,500, a level that Michaël van de Poppe now believes could establish a short-term price target.
He added that $ 22,800 is a very important area to hold in order to keep the possibility of further gains.
Altcoins are also in a downward trend in line with this decline. Ethereum has dropped 6% at the time of writing.