The technical analysis of BTC indicates a continuation of the declining trend as the price struggles to cross above the 200-day SMA due to selling pressure. The week has been a roller coaster for most of the crypto markets. Bitcoin (BTC) also saw a dramatic drop to its two-year low of $15,555 which it hit last time in November 2020 in the backdrop of the COVID-19 crisis, registering a drop of 21.59% in the last 7 days. The current crypto crash is coupled with a number of events including liquidity crises in US-based crypto exchange FTX and Binance-FTX failed acquisition The post BTC Technical Analysis: Bitcoin Drops Over 3.53% as Bear Continuous appeared first on Cryptoknowmics-Crypto News and Media Platform .
