Bitcoin’s price tumbled below $60K today, rendering the entire move up toward $63K from earlier – a bull trap.
At the time of this writing, BTC trades at around $58.8K but it reached a low of about $57,800 earlier.This puts Bitcoin on a decline of 3.7% for the past 24 hours and 3.6% for the past week. Most of the altcoins are also deep in red.This is the reason the total liquidations are also ramping up. At the time of this writing, data from Coinglass, meme coins also plummeted. Shiba Inu fell by some 6% on the day, putting its weekly loss to 8%. Other meme coins are also down.
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