The cryptocurrency market has started the new week on a negative note, with the majority of altcoins trading in the red.
The market capitalization has dropped to slightly over $1.9 trillion. Bitcoin has dropped below the $40k mark which was a crucial support and resistance.
At this time, the only thing that matters is where the daily candle closes. If buyers can seize the opportunity and hold above the $37,000 level, a breakout might occur, followed by a return to $40,000.
Bitcoin Exchange Flow
Though there has been a mix of Bitcoin entering and exiting exchanges in recent days, Glassnode’s weekly data shows that the king coin has been retreating into wallets on a consistent basis.
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Source: https://coinpedia.org/bitcoin/btc-price-drops-below-40k-time-to-buy-bitcoin-or-wait-for-more-dump/