Bitcoin’s course fell below $ 48 thousand against the background of the «cooling» of the market

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The price of bitcoin fell below the level of $ 48 thousand, reaching the lowest mark over the past 48 days.

In less than a day, the BTC rate fell from $ 55 thousand to $ 47.5 thousand. Correction went into lateral traffic, and the market began to attempt to return lost positions. At the time of publication, Bitcoin trades $ 49368 with a daily loss of 8.56%.

Among the causes of such a sharp collapse, the proposal of the US President Joe Bayiden is half an increase in capital gains tax, bearings in the cryptocurrency futures market and a series of major sales orders on large stock exchanges.

Part of the analysts also talk about returning the balance of flows after a long «overheating» of the retail market.

Since the daily chart the rate dropped below the 100-day moving average, it is not possible to further decrease to the support level of about $ 46 thousand.

Recall that, according to Analytics JPMorgan, the Bitcoin market expects

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