Having failed to reclaim $70,000 during the recovery started on February 24, Bitcoin ($BTC) abruptly started a crash in the early hours of Friday, February 27, falling about 3.3% within just four hours.
Indeed, $BTC’s swift collapse from $68,000 to its press time price of $65,770 brought into sharp focus the cryptocurrency’s next critical support zone at $64,000.
Specifically, the $64,000 level serves as an important zone for Bitcoin, and a plunge below could not only send the world’s premier digital asset toward new 2026 lows but trigger widespread contagion in the U.S. stock market, per the analysis of Bloomberg’s top commodity analyst, Mike McGlone.
In approximately 30 minutes, silver rose by about 1%, and gold is up by nearly $20 and is, at press time, back above $5,200.
Featured image via Shutterstock
Leave a Reply
You must be logged in to post a comment.