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Bitcoin: Back below $30,000, risk aversion takes over


Investing.com – After more than 24 hours of consolidation below a key resistance zone, the bears finally got their hands on Bitcoin yesterday afternoon as the price fell from a daily high near $32,000 to a low of 29,350 $ last night, down around 8%, and the cryptocurrency remains below the key $30,000 threshold this Thursday morning at 5am.

Risk aversion therefore took over, as was the case on the stock markets in Europe and the United States. Remarks by Jamie Dimon, head of the bank JP Morgan, participated in this aversion to risk, this one having on the horizon, remarks which were taken up on the front page of most of the financial media.

It should be noted that other cryptocurrencies have been largely affected by the fall of Bitcoin, with Ethereum currently trading at $1830, down 5.6% over 24 hours. The biggest drop in the Top 10 crypto, however, is posted by (SOL), which has plunged 13% since yesterday, to $ 40, the cryptocurrency suffering the double impact of the fall of BTC and .

From a graphical point of view, the profile of Bitcoin is therefore once again bearish, and the $30,000 threshold once again becomes an immediate resistance. If the fall of Bitcoin continues, the supports to take into account will be at 28,600/29,000$, then 28,000$, and the bottom of this year at 26,600$.

On the upside, a move back above $30,000 would be positive, but BTC/USD’s bottom trend will only begin to materially improve if it breaks above the $32,000/$32,700 resistance zone. .



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