$200 Million Crypto Exploit, Bitcoin Drops Below $23,000, Whats Happening? Crypto Market Review, August 2 - BitcoinEthereumNews.com
अरमान शिरीनयान Unfortunately, market positivity is gone as market loses $30 billion in capitalization The begining of the week was not as smooth as we expected it to be following the massive rise in positivity we saw previously. First, we had a Vasil hard fork postponed, then Ethereum decentralized derivative trading platforms reported that they might face some problems after the Merge update. Less than 24 hours ago, the market faced a $200 million hack of the Nomad पुल. Bitcoin losing ground Unfortunately, Bitcoin was not able to hold above the $23,000 threshold and had already reached a $22,800 price level, which shows that the first cryptocurrency does not have enough buying power behind it. The lack of trading volume on BTC caused a reversal from the local high of $24,800. स्रोत: TradingView Luckily, Bitcoin is still moving in the local uptrend since the middle of July, which means that the biggest cryptocurrency on the market is still in a local bull market, and market participants should not aim at new lows. The most likely scenario from a technical standpoint right now is another test of the local trends support level located at around the $22,000 price level. At press time, the line has been tested twice