Bitcoin News Today – The digital currency markets are back in the red, as the bears seem to have returned. Over the past couple of hours, the valuation of the entire crypto market plunged by about $6 billion. This is happening coincidentally again, just after Bakkt launched more institutional investment products for Bitcoin (BTC).

Bitcoin Heads to $7k As Bakkt Launches More BTC Products

During late trading yesterday, the charts of Bitcoin were looking positive, but the Asian trading session changed everything. Bitcoin (BTC) quickly dumped back to $7,200 after a brief spike over the $7,600 mark. At the time of writing, Bitcoin (BTC) is changing hands at $7,400 but many analysts are strongly bearish on the coin. Recently, a crypto trader and analyst – Josh Rager – said:

“Bitcoin is battling the POC at $7315 area and so far holding steady. Below that we’d want to look at the low of the value area – $7100s (sweep of low $7080)”

BITCOIN IS BATTLING THE POC AT $7315 AREA AND SO FAR HOLDING STEADY

BELOW THAT WE'D WANT TO LOOK AT THE LOW OF THE VALUE AREA – $7100S (SWEEP OF LOW $7080)

ALL TOGETHER – IS THIS BULLISH OR BEARISH – IMO, NEITHER SHORT TERM, IT'S RANGING AND COULD LIKELY BE AN ACCUMULATION AREA PIC.TWITTER.COM/HMQ6DX1WCC

— JOSH RAGER 

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