Is $19k the new $20k for BTC; 3AC Files for Bankruptcy

Chart of the Day 

The broader crypto market remained relatively range-bound despite the unfortunate unfolding of Three Arrows Capital’s bankruptcy among other disappointing news. On a more positive note, BTC successfully defended the $19k psychological level, turning it into a support line after the breach of the $20k support level. As of the time of writing, BTC is trading slightly above $19k after posting a marginal gain in the last 24 hours. The next critical level for BTC stands at the $17k region, which is the next line of defense should the market be mauled further by the bears.