Bitcoin Rate Fell Below $40K
Bitcoin, after a brilliant jump and a short period of volatility above $40,000 without finding the necessary support at this level, fell again on March 10th.
At first, the BTC/USD pair managed to overcome the $42,000 level before consolidating. However, the lack of necessary support meant that a fall below $40,000 was inevitable.
Over the past few weeks, a similar Barth pattern has already appeared several times. Trader and analyst Matthew Hyland posted a chart on Twitter with key BTC/USD resistance levels to overcome. In addition, he outlined support levels at $36,300 and $33,000, which, in his opinion, the bulls simply need to hold.
Bitcoin’s volatility has also affected many of the top 10 altcoins by market capitalization, according to Coinmarketcap. Avalanche (AVAX) lost the most in price, dropping 7.43%. Also, after Bitcoin, the Solana (SOL) rate fell down, losing 6.68% from its previous value over the past day. In third place in terms of losses was Ethereum (ETH), which lost 5.71% of its value.
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