Bitcoin price drops to $62.5K as trader warns weekly close may spark more losses

BTC

BTC/USDT

$63,090.01

-0.05%

$63,090.01

-0.05%

(24s)

24h Volume

$2,488,863,636.72

24h H/L

$63,175.00 / $62,920.00

Change: $255.00 (0.41%)

Long/Short

67.9%

Long: 67.9%Short: 32.1%

Funding Rate

+0.0026%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,133.03

▲ 0.07%

Volume (24h): -

Resistance Levels

Resistance 3$66,089.72

Resistance 2$64,397.36

Resistance 1$63,626.50

Price$63,133.03

Support 1$62,999.35

Support 2$62,275.00

Support 3$61,056.47

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):43.6

Cointelegraph Staff

(02:38 PM UTC)

1 min read

Bitcoin (BTC) declined into Friday’s Wall Street open as traders increasingly saw a BTC price breakdown next.

Key points:

Bitcoin stays below $63,000, heading steadily closer to new August lows while US stocks build on record highs.
Analysis says that $63,220 must be reclaimed by the weekly close to avoid a deeper rout.
Markets look to PCE inflation data as the next key test for risk assets.