Bitcoin experienced a drop in prices below $27,000, hitting a seven-week low on May 12. The decline was part of a broader trend affecting cryptocurrencies, with the market cap down 2.75%. Ethereum also saw a drop, hitting its weakest point since March.
The sell-off coincided with the 14-day relative strength index (RSI) breaking out of yesterday’s floor of 43.00, and if momentum continues, BTC could move toward $25,000 this weekend. Bulls may see this as a long-term positive and may move to buy the current dip in price.
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