BTC Price Plunges to $16.4K

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Bitcoin Price Prediction for Today, November 9: BTC Price Plunges to $16.4K
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Bitcoin Risks Further Decline as BTC Price Plunges to $16.4K – November 10, 2022

The price of BTC/USD has plummeted past the previous low of June 18 as BTC Price plunges to $16.4K. Bitcoin fell to a low of $17,605 on June 18, but the bulls purchased the dips. On August 15, the cryptocurrency asset bounced back and increased, reaching $25,205. The BTC price is currently at $16,229.96, but it might fall even more.

Bitcoin Price Statistics Data:-•Bitcoin price now – $16,229.96•Bitcoin market cap – $312,558,806,960•Bitcoin circulating supply – 19,203,156.00 BTC•Bitcoin total supply –$339,230,481,982•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Phemex

Bitcoin’s (BTC) price has entered a downturn after failing to maintain a position above the $21,473 resistance. BTC’s price plunged on November 8 and dropped from a high of $21, 473 to a low of $16, 231. As the crypto could continue to fall, the downturn has not abated. Beyond the price decline that began on June 18 and saw Bitcoin fall to a low of $17,605, the slide has continued. The biggest cryptocurrency may experience another negative slide to a low of $15,500. If the BTC price retraces and maintains above the $15,500 support, the bulls will purchase the dips on the upside. The price indications are continuing to suggest a bearish trend. In summary, Bitcoin will continue to fall as it is at level 32 on the Relative Strength Index period 14.

Marathon Is Currently the Second-largest Publicly Traded Bitcoin Holding – BTC Price Plunges to $16.4K

Marathon Digital Holdings, a company that specializes in mining Bitcoin (BTC), is now thought to be the second-largest publicly traded corporation in terms of Bitcoin holdings. According to unnamed third-party data, Marathon Digital CEO Fred Thiel stated during the company’s third-quarter earnings call on November 8 that the company currently holds 11,300 BTC, worth about $205 million at the time of writing, “making Marathon the second largest holder of Bitcoin among publicly traded companies worldwide.” The Nasdaq-listed cryptocurrency miner is rated second only to MicroStrategy Inc., which has almost 130,000 BTC, in CoinGecko’s rankings. Coinbase, a cryptocurrency exchange, and Block Inc., a payments business created by Jack Dorsey, come after it. On Nov. 8, the firm released its third-quarter earnings, indicating that the quarter saw 616 BTC added to its holdings, with another 615 BTC added in October alone, the most productive month in company history.

BTC/USD – Daily Chart

The price of Bitcoin (BTC) is rising after a recent meltdown as BTC price plunges to $16.4K. After a downward correction on September 21st, the price of BTC challenged the 61.8% Fibonacci retracement level with a candle body. According to the adjustment, BTC will drop to level 1.618 of the Fibonacci extension, or $15,503.83. Given that Bitcoin is trading below the daily Stochastic’s level 20, the current slide has hit bearish fatigue.

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