BTCUSD

coin (BTC) is experiencing a third consecutive week of declines. The digital currency is down almost 3% and is currently trading around $61,300. This week’s decline is partly due to the start of refunds to customers affected by the 2014 Mt. Gox cryptocurrency platform hack. A decade after the company’s collapse, 140,000 Bitcoins were seized from a hack that leaked 940,000 BTC. At the time of the bankruptcy, the value of one Bitcoin was $451, down from $61,300 today. This suggests that there will be significant selling if creditors decide to take their profits, potentially sending BTC prices lower. On the technical side, after breaking the daily $64,300 band, there is a clear pullback to $65,710, while the most important support level is $62,120. If the sell position continues from here, we could see a pullback to $61,330. Support: 62120 – 61330 Resistance: 64300 – 65710