BTC Correlation with TradFi Dips; BlockFi Report Reveals $600M Uncollateralized Exposure
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The broader crypto market fluctuated violently over the weekend. Top digital assets plummeted on Saturday before staging a brief comeback on Sunday, only to dive again later. As of the time of writing, BTC is trading below the $22k handle and the 100-hour moving average, after posting a 3.6% loss in the last 24 hours. There is a break below a key bullish trend line with support near the $22.7k level on the hourly chart. The largest cryptocurrency by market cap may face further decline if the support level near $21.4k doesn't hold.