The crypto market experienced significant volatility as the price of Bitcoin dropped to $92,100 before rebounding to $101,000. This led to the liquidation of $1.98 billion worth of trades. The price of dogwifnat also saw a sharp decline, breaking below a long-standing support level of $1. Over the past few days, the price of dogwifnat has fallen from $1.26 to $0.85, marking a 30% loss. The WIF price has been moving between $4.8 and $1 since mid-April 2024, and the recent breakdown indicates the potential for further correction. However, there is a possibility of a rebound to the $1 level as a resistance if Bitcoin experiences renewed buying pressure. Analysts suggest that the asset could potentially reach a floor of $0.51. The negative sentiment in the market is emphasized by the bearish alignment of key daily EMAs and the daily RSI slope indicating oversold conditions. Nonetheless, the discounted price of dogwifnat may attract potential buyers.



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