Cryptocurrencies continued fell on Wednesday, with Bitcoin dipping below $59,000 and Ether touching its lowest level this month, in a broad-based retreat from recent record highs.
The world’s most popular and largest cryptocurrency was trading over 4% lower to $58,956.
The daily chart indicates that BTC may be retesting the support at $58000 levels,” said Siddharth Menon, COO of WazirX.
Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, also plummeted more than 5% to $4,111.
An immediate support is expected at $3900 up until which Ethereum looks strong and should hold good,” Menon added.
Meanwhile, dogecoin price fell over 7% to at $0.23 whereas Shiba Inu also tumbled over 7% to $0.000047.