{"id":16967,"date":"2023-06-01T21:02:09","date_gmt":"2023-06-02T01:02:09","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-price-falls-below-27000-key-levels-to-watch-now\/"},"modified":"2023-06-01T21:02:10","modified_gmt":"2023-06-02T01:02:10","slug":"bitcoin-price-falls-below-27000-key-levels-to-watch-now","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16967","title":{"rendered":"Bitcoin Price Falls Below $27,000. Key Levels to Watch Now."},"content":{"rendered":"
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\n Bitcoin
\n and other cryptocurrencies were largely down early on Thursday, with concerns around falling liquidity in focus following the likely passage of legislation to lift the U.S. debt ceiling.<\/p>\n

Bitcoin was down 1.2% at $26,856. The largest cryptocurrency has fallen back in the last couple of days from levels above $28,000.\u00a0<\/p>\n

\n

\u201cBitcoin faces a number of potential banana skins in June now the debt ceiling drama looks to have passed. Once the Senate likely backs the debt-limit legislation, the market faces a flood of treasury bill issuance which will likely draw liquidity away from risk assets like Bitcoin,\u201d said Antoni Trenchev, managing partner of crypto lender Nexo.\u00a0<\/em><\/p>\n

The House of Representatives approved a deal to suspend the U.S. federal government\u2019s $31.4 trillion debt ceiling late on Wednesday and it now heads for Senate approval. That could lead to up to $1 trillion in U.S. Treasury issuance in the coming weeks and months.\u00a0<\/p>\n

\u201cFor Bitcoin, it\u2019s quite simple: Stay above the 200-week moving average around $26,300 and the bullish uptrend from the November low of $15,500 is intact. On the upside, get above $31,000 and things might start to get really interesting,\u201d said Nexo\u2019s Trenchev.<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014was down 0.6% to $1,858. Smaller cryptos or altcoins were mixed, with <\/p>\n

Cardano down 3.3% but
\n Polygon
\n rising 0.3%.
\n Dogecoin
\n gained 0.2%.<\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies were largely down early on Thursday, with concerns around falling liquidity in focus following the likely passage of legislation to lift the U.S. debt ceiling. Bitcoin was down 1.2% at $26,856. The largest cryptocurrency has fallen back in the last couple of days from levels above $28,000.\u00a0 \u201cBitcoin faces a number […]<\/p>\n","protected":false},"author":1,"featured_media":16968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-16967","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin Price Falls Below $27,000. 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