Alex Thorn, crypto firm Galaxy Digital Group’s head of research, argued that even if a further crash was in the cards, traders who bought BTC in similarly grim occasions in bitcoin’s history could return a profit within as soon as a month. If the largest cryptocurrency were to suddenly sell off, he pegs $17,000 as a key level that would provide strong price support. As of press time bitcoin was changing hands around $20,000, well off the all-time high around $69,000 reached last November.
Traders Bet on USD Coin Rebound as USDC Falls to 90 Cents
Some $4 million in USDC futures were liquidated in the past 24 hours, Coinglass data shows. Source link