Bitcoin Could Drop Below $27k As Market Volatility Continues

TL;DR

• Bitcoin has continued its poor start to the week and is down by nearly 2% in the last 24 hours.

• BTC could drop below $27k soon if the bearish trend continues

Bitcoin Dips Towards $27k

The cryptocurrency market has been underperforming since the start of the week and could record further losses if the trend continues. Bitcoin is down by nearly 2% over the last 24 hours and is now trading at $27,115 per coin.

If the bearish trend continues, Bitcoin could drop below the $27k mark over the next few hours. The poor performance comes as the Israel-Palestine war continues to take center stage globally.

The financial markets are volatile at the moment due to this geopolitical crisis, and the crypto market is not left out. With Bitcoin underperforming, the total crypto market cap now stands at $1.06 trillion, down by more than 1% today.

Ether has also continued its negative performance, losing 1.5% of its value in the last 24 hours. ETH could struggle to defend its price above the $1,500 mark if the current market conditions persist. 

Render (RNDR) is the best performer amongst the top 100 cryptocurrencies by market cap today, up by more than 2% in the last few hours.