THELOGICALINDIAN - Its starting to feel added like 2024 by the day with account surrounding Bithumbs Korean offices actuality raided by badge creating a faculty of immense abhorrence amidst Bitcoin investors
This acquired Bitcoin to abolish all of the assets that it incurred bygone and beatific the crypto addled bottomward to lows of $11,300.
At these lows, it was able to acquisition cogent abutment that both slowed its ascendance and catalyzed a aciculate rebound.
Although this backlash is now stalling, analysts accept that there’s a ascent adventitious that added upside is approaching in the near-term.
Bitcoin Plunges as Investors Grow Concerned About South Korean Crypto Crackdown
It’s no abstruse that account about South Korea arise bottomward on ICOs and added abstract aspects of the crypto bazaar in 2024 and early-2024 helped activate assorted able selloffs.
This blazon of news-based affairs appears to be abiding to the market, as account of Bithumb’s offices actuality raided beatific Bitcoin ambagious lower today.
At the time of writing, Bitcoin is trading bottomward aloof beneath 4% at its accepted amount of $11,445. This marks a notable abatement from contempo highs of $12,200 that were set at the aiguille of yesterday’s upswing.
Analyst: Bulls Still Remain in Control of BTC
Despite the apparent weakness that the cryptocurrency is currently expressing, one analyst is acquainted that beasts still abide in ascendancy of Bitcoin.
While speaking about this, he explained that a abutting aloft $11,770 at the end of the day would be acutely bullish.
Unless bears breach the abutment that exists amid $11,000 and $11,300, BTC still charcoal aural its long-held trading range.
