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TechFlow reported, according to the latest data from cryptocurrency analytics platform CryptoQuant.com, Bitcoin plummeted over 16% in the past 24 hours, breaking below the $57,000 support level.
CryptoQuant noted this breakout could signal further downside risk for Bitcoin, potentially falling to $40,000. The report also highlighted that traders are currently facing the most severe negative unrealized profit ratio since November 2022.
According to the latest report from cryptocurrency data analytics platform CryptoQuant.com, Bitcoin plummeted over 16% in the past 24 hours, breaking below the $57,000 support level. CryptoQuant noted that this breakdown could signal further downside risk for Bitcoin, potentially falling toward $40,000. The report also highlighted that traders are currently facing the most severe negative unrealized profit ratio since November 2022.
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