Bitcoin’s Critical Support is Degrading, and It’s Bad for Altcoins

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Bitcoin is currently struggling to garner any notable upwards momentum as its price drifts towards its key support at $11,000 Sellers have been in firm control of its trend throughout the past several days and weeks Where it trends in the near-term will likely depend almost entirely on whether or not bulls can continue defending against a decline below $11,000 One analyst is noting that a key technical support level that was bolstering BTC is degrading He believes that a break below this level will spark a sharp decline, which may lead both BTC and altcoins to post massive losses Bitcoin and the entire crypto market are currently seeing heightened weakness. This has come about due to BTC struggling to hold above its key support in the lower-$11,000 region. If the slight buying pressure that is stopping it from seeing further downside begins disappearing, the crypto could be in for…

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