{"id":325756,"date":"2024-06-18T17:38:14","date_gmt":"2024-06-18T12:08:14","guid":{"rendered":"https:\/\/dripp.zone\/news\/top-reasons-why-65k-support-can-end-crypto-crash-crypto-news\/"},"modified":"2024-06-18T17:41:52","modified_gmt":"2024-06-18T12:11:52","slug":"top-reasons-why-65k-support-can-end-crypto-crash-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/top-reasons-why-65k-support-can-end-crypto-crash-crypto-news\/","title":{"rendered":"Top Reasons Why $65K Support Can End Crypto Crash? – Crypto News"},"content":{"rendered":"

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The total crypto market cap has declined by another 2% to $2.48 trillion, according to CoinGecko<\/span><\/a> data. This downturn outlook reflects the sell-off wave that continues to ravage retail investors\u2019 portfolios, leaving nothing but disappointments. Bitcoin price sits in the red at $65,510 and above support at $65,000. Due to the uncertain crypto landscape, it is too early to tell if BTC will rebound from this level or retest $64,000 and perhaps $60,000.<\/p>\n

Bitcoin Fear and Greed Index Holds High<\/h2>\n

The hope for an immediate bull run after the halving cycle of 2024 is gradually fading characterized by widespread losses and weary investors. Last week\u2019s jump to $70,000 briefly changed the outlook for BTC and altcoins but the FOMC meeting and the Federal Reserve\u2019s hawkish stance on interest rate cuts left more gloom than optimism.<\/p>\n

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In the last 7 days, Bitcoin price<\/span><\/a> has declined by 2.5% on top of a 4.5% decrease in a fortnight. The area at $65,000 appears to be the most solid short-term support.<\/p>\n

Defending this level could reinforce bullish outlook in the market for the rest of the week backed by increasing optimism for a spike to $70,000.<\/p>\n

Despite the lack of enthusiasm, the crypto fear and greed index holds firmly at 74 indicating the early stages of greed. In other words, investors still consider BTC a suitable asset to buy at its current level.<\/p>\n