A prominent crypto analyst is sounding the alarm on the potential for Bitcoin (BTC) to experience a significant drop in value if a crucial support level is breached. Altcoin Sherpa, a well-known trader in the crypto space, recently shared his insights with his extensive following on X, cautioning that Bitcoin could retest the $60,000 range if it fails to hold the $78,000 support level.
On the flip side, Altcoin Sherpa also highlighted the possibility of Bitcoin reclaiming the $90,000 range, which could pave the way for the flagship cryptocurrency to revisit its all-time high of around $109,000. However, he emphasized that the path ahead for Bitcoin is uncertain, emphasizing the need for patience amidst the current market volatility.
Shedding light on another cryptocurrency, Altcoin Sherpa pointed out that Aptos (APT), a layer-1 chain, may have hit a market bottom after rebounding from the $4.80 level. While most altcoins are expected to continue trending downwards, Altcoin Sherpa believes that certain projects like APT and ACT have shown resilience by maintaining their price levels since early February.
At the time of writing, Bitcoin is trading at $82,757, holding steady for the day. In contrast, Aptos is priced at $5.12, reflecting a 7.8% decline over the past 24 hours.
As the crypto market remains unpredictable, investors are advised to stay informed and exercise caution. To stay updated on the latest developments and price movements, consider subscribing to email alerts for timely updates. Additionally, following reputable sources like The Daily Hodl on social media platforms such as X, Facebook, and Telegram can provide valuable insights and analysis.
Stay tuned for more updates and analysis on the dynamic crypto market.
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