Affected by the overall decline in the cryptocurrency market, Bitcoin Cash (BCH) dropped over 10% to $481, and Bitcoin's price also fell below $63,000. Analysts attribute this sell-off to macroeconomic headwinds, including geopolitical tensions and risk aversion sentiment, which have triggered a large outflow of funds from digital asset products. Technical indicators show that bears are in control, with the 50-day moving average and the 200-day moving average approaching a death cross. Resistance is at $500, and further declines could test $425.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Affected by the overall decline in the cryptocurrency market, Bitcoin Cash (BCH) dropped over 10% to $481, and Bitcoin's price also fell below $63,000. Analysts attribute this sell-off to macroeconomic headwinds, including geopolitical tensions and risk aversion sentiment, which have triggered a large outflow of funds from digital asset products. Technical indicators show that bears are in control, with the 50-day moving average and the 200-day moving average approaching a death cross. Resistance is at $500, and further declines could test $425.