Altcoins lost anywhere between 3 and 10%, with Bitcoin and Ethereum coming in at roughly a 6% decline each. In the collapse, Bitcoin price briefly fell below $20,000, which is being retested as resistance turned support.
$20,000 is an important level to hold for bulls from both a technical and a psychological perspective. The key level was the peak of the 2017 bull market, and although it was lost temporarily as it’s the FTX collapse, it was reclaimed in early January.
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