Bitcoin Approaches $60,000 Amidst Significant One-Day Decline

Bitcoin nears the $60,000 mark, facing its largest single-day drop since the FTX collapse, with analysts eyeing crucial support levels.

Bitcoin is making its way towards the $60,000 threshold, but not without encountering a notable single-day decline—the most substantial since the FTX incident. This volatility has raised concerns among investors and analysts alike.

According to one expert, the 200-day moving average, which hovers between $58,000 and $60,000, may serve as a critical support level that traders should keep an eye on. This indicator could determine Bitcoin's next move as it navigates through this turbulent period.