Bitcoin recovered 0.7% on Wednesday, but remains at a crucial crossroads after a 9.5% decline since Sunday.
The largest cryptocurrency traded recently near $67,000, firmly in the middle of a range that persisted between February and April after a failed breakout attempt above $81,000 last month.
If bitcoin tumbles below $60,000 it would probably trigger a wave of liquidations and a possible slide to as low as $54,000, a level of support dating back to both 2024 and 2021.
Ether (ETH), meanwhile, trades at $1,870 after rising by 0.9% since midnight UTC, although the bounce comes after a selloff that saw it tumble to its lowest point since February.
The U.S. stock market rallied to record highs again on Tuesday. The divergence is…
