Capitulation vibes? Bitcoin realized losses are beating records as BTC nears $17,500.
Low-liquidity trading conditions had made for aWhile recovering some losses, a sense of deja vu pervaded the market on the day. $20,000 had returned as resistance, this having formed an all-time high for Bitcoin forIt was also the first time that BTC/USD had retreated under a previousThere's a first first everything. This is the first time Bitcoin has traded below prior cycle highs. I think it's fair to say things are different now.
"To put things into perspective: A Bitcoin crash of 74% as at present is nothing unusual," markets commentator Holger Zschaepitz"In history, there have already been 4 collapses in which the leading cryptocurrency went from peak to trough by >80%." In terms of what could like ahead, attention focused on $17,000 as a potential short-term target. A short squeeze higher, as popular Twitter account Credible Crypto noted, was not on the menu.
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