Bitcoin and aggregated crypto markets have been facing significant down pressure on the last few days, which have led markets to retrace significantly in their recent high at the end of June.
Now, one well-known analyst who predicted Bitcoin’s recent drop now pointed out that the aggregated crypto markets could retrace another 61% in the near future until it reaches a price level that sparks the next major bull perspective.
Bitcoin and Crypto Markets Plunge as bears build strength
At the time of writing, Bitcoin sells more than 2% of its current price at $ 9,815, which significantly reduces the daily prices of $ 10,100 to $ 11,000 a weekly price.
This painful price action is just a continuation of sales pressure, which began at the end of June when the entire cryptopic market has enabled the pressure under pressure to be increased parabolically to $ 13,800, which has created a highly unsustainable paid move. crypto.
Aggregated crypto markets have been tightly spying on the Bitcoin price action, which means that the largest cryptocurrencies are currently trading below their monthly and weekly high.
Flipper Flipper, a popular cryptococcus analyst on Twitter, recently noted that cryptocurrency is currently trading on a broader arrival channel that can last for next months.