As Wall Street opened today, resuming April 21 market losses, Bitcoin faced selling pressure.
Bitcoin prices fell following the stock market plunge. As a result, many experts predict that the Bitcoin price will take a hit and can dive to $37,500 per coin.
Related Reading | Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes
According to TradingView data, on April 22, the price of Bitcoin hit $39,197.
Bitcoin trading below the significant support level of $40,000 | Source: BTC/USD chart from Tradingview.com
The crypto market significantly increased yesterday, with Bitcoin reaching above $42,700. Unfortunately, the day had cost bulls $40,000 support, which had not yet become meaningful at the time of writing.
The Material Indicators team observed that the bids were filling at lower prices for analytics resources’ order books.
According to a chart, there were about $100 million in bids waiting on Binance between spot and $37,500.
In a tweet, Material Indicators said’
#FireCharts is showing ~$100M in #bitcoin bid liquidity betwe ..
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