Bitcoin cryptocurrency plummeted in just a day

The price of bitcoin BTC $62,357.97 Bitcoin -2.11% Market capitalization $1.23 trillion VOL. 24 hours $1.24 billion failed to overcome resistance at $ 37,500. Yesterday, November 14, BTC began a new decline from a high of $ 37,423 and fell below many support levels, including the levels of $ 36,000, $ 35,500, and even $ 35,000.

Bitcoin retested the support zone at $ 34,650. The low was formed at $ 34,666, and now the price is trying to resume its positive trend by moving above $ 35,000.

Michael van de Poppe, founder of MN Trading, noted that testing BTC’s levels in the range of $ 34,800−35,200 could give «an additional impetus to growth to the highs.» In his opinion, such price dips are «entry points for altcoins.»

At the time of writing, the flagship asset is trading at $ 35,634 with a market capitalization of $ 696.4 billion, a drop of almost 3%. Daily trading volumes with the digital coin increased by 31.45% to $ 23.8 billion. Bitcoin’s dominance in the market has decreased to 50.8%.

As for the global situation in the crypto market, the industry’s capitalization is currently down 2.25% to $ 1.36 trillion. Daily transactions reached $ 64.31 billion, and the fear and greed index is at 71 points.