Bitcoin bounced from $38,500 to $40,500 but has fallen back to $39,000
The pressure is on against cryptocurrencies now as we're seeing the squeeze continue.
From a technical perspective, this is a very slippery slope for Bitcoin if the drop today breaks below both the $40,000 mark and its 200-day moving average. If sellers can manage that, a push towards $30,000 isn't out of the picture next.
