![What Is Asset Tokenization? Types, Why It Matters Now [2025]](https://coininsights.com/wp-content/uploads/2025/05/asset_tokenization-360x180.png)
- The range formation of April and May gained notability once again.
- The bulls might falter and cede the $60k level to the bears in the coming days.
Bitcoin [BTC] noted losses of 7.84% on the 24th of June, Monday. An earlier AMBCrypto report highlighted that news developments around Mt. Gox repayments could add to the selling pressure on Bitcoin.
The same report also observed that a sudden, sharp price drop could be imminent. A few hours later BTC fell to $58.4k before bouncing slightly to trade at $61.1k at press time.
Will the support zone be defended this time too?
The range formation could be the key
Source: BTC/USDT on TradingView
On Sunday, the 16th of June, Bitcoin bounced from $66k to $66.9k, thus retesting the range highs as resistance. Since then, it has trended downward and was near the lows at $59.7k. It is expected that the $59k-$60k support zone would see BTC recover.
The daily RSI supported this idea. It spiraled down to 25.6 on Monday, but was 30.38 at press time. Therefore, the chances of a recovery are bolstered due to the RSI rallying above 30.
However, the OBV was in a strong downtrend and reflected intense selling pressure over the past two weeks. This trend must be arrested and reversed before bulls regain confidence.
The liquidation heatmap showed traders could experience more pain
Source: Hyblock
Although the $59k region was a strong demand zone, it might not be enough to stall the bearish pressure. AMBCrypto’s analysis of the liquidation data from Hyblock showed that we are likely to see another 10% BTC price drop soon.
Read Bitcoin’s [BTC] Price Prediction 2024-25
The 6-month lookback period chart showed a high concentration of long liquidations levels around the $55k mark. It is likely to act as a magnetic zone and attract prices to it before the higher timeframe uptrend can resume.
Traders and investors need not sell right away, but a visit to the $55k region could present a buying opportunity instead of inciting panic.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
- The range formation of April and May gained notability once again.
- The bulls might falter and cede the $60k level to the bears in the coming days.
Bitcoin [BTC] noted losses of 7.84% on the 24th of June, Monday. An earlier AMBCrypto report highlighted that news developments around Mt. Gox repayments could add to the selling pressure on Bitcoin.
The same report also observed that a sudden, sharp price drop could be imminent. A few hours later BTC fell to $58.4k before bouncing slightly to trade at $61.1k at press time.
Will the support zone be defended this time too?
The range formation could be the key
Source: BTC/USDT on TradingView
On Sunday, the 16th of June, Bitcoin bounced from $66k to $66.9k, thus retesting the range highs as resistance. Since then, it has trended downward and was near the lows at $59.7k. It is expected that the $59k-$60k support zone would see BTC recover.
The daily RSI supported this idea. It spiraled down to 25.6 on Monday, but was 30.38 at press time. Therefore, the chances of a recovery are bolstered due to the RSI rallying above 30.
However, the OBV was in a strong downtrend and reflected intense selling pressure over the past two weeks. This trend must be arrested and reversed before bulls regain confidence.
The liquidation heatmap showed traders could experience more pain
Source: Hyblock
Although the $59k region was a strong demand zone, it might not be enough to stall the bearish pressure. AMBCrypto’s analysis of the liquidation data from Hyblock showed that we are likely to see another 10% BTC price drop soon.
Read Bitcoin’s [BTC] Price Prediction 2024-25
The 6-month lookback period chart showed a high concentration of long liquidations levels around the $55k mark. It is likely to act as a magnetic zone and attract prices to it before the higher timeframe uptrend can resume.
Traders and investors need not sell right away, but a visit to the $55k region could present a buying opportunity instead of inciting panic.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Hey there! This is my 1st comment here so I just wanted to give a quick shout out and say I genuinely enjoy reading your articles. Can you suggest any other blogs/websites/forums that deal with the same topics? Thanks for your time!
Hello there, I found your site via Google while searching for a related topic, your web site came up, it looks good. I have bookmarked it in my google bookmarks.
Really clear site, regards for this post.
Purdentix reviews
Purdentix
Purdentix review
The content is well-organized and highly informative.
The design and usability are top-notch, making everything flow smoothly.
The design and usability are top-notch, making everything flow smoothly.
The layout is visually appealing and very functional.
I’m really impressed by the speed and responsiveness.
The layout is visually appealing and very functional.
I’m really impressed by the speed and responsiveness.
The design and usability are top-notch, making everything flow smoothly.
ICE HACK
The layout is visually appealing and very functional.
I’m really impressed by the speed and responsiveness.
Purdentix
can you get cheap clomid without insurance cost clomid prices buying generic clomiphene tablets how to get cheap clomid pill where can i get generic clomid how to get clomiphene price cost generic clomid online
This is the compassionate of criticism I rightly appreciate.
This is the tolerant of post I find helpful.
zithromax 500mg uk – ciprofloxacin 500 mg over the counter order metronidazole generic
where to buy semaglutide without a prescription – buy periactin sale periactin 4mg cost
order amoxicillin generic – cheap ipratropium 100mcg order ipratropium 100mcg online