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Bitcoin, the world's largest cryptocurrency, dropped below $60,000, according to the latest data.
Thus, the price fell below $ 60,000 for the first time since the beginning of May, when it jumped from $ 58,364.
The reason for this movement of $BTC price is the sunken Mt. It is shown that the BTCs stolen from the Gox cryptocurrency exchange will be returned to creditors.
Il Capo, one of the most well-known analysts in the cryptocurrency world, published a warm statement following the latest development. According to the analyst, $BTC failed to regain its target level of $65,000 and fell back to its previous liquidity zone between $58,000 and $60,000.
According to the analyst, altcoins made a successful stop in this decline of $BTC in the lower time frame. il Capo believes that this region is an important support area. In addition, he claims that a local bottom formation is imminent and a rebound is only a matter of time.
The analyst continued his statement by announcing that he purchased more artificial intelligence (AI) and real-world presence (RWA) themed altcoins in response to recent developments. However, he added that he would publish more analysis tomorrow.
*This is not investment advice.