Bitcoin is the most popular cryptocurrency in the market and have a lot of liquidity. Right now the level of resistance is around 6k at the moment. Mining a bitcoin it cost around 5500$ from memory, I read it on an article. Do not expect the miners will let go the price below this psychological level.

When the market face a bear market, a lot of crypto investors prefer to sell their Steem for Bitcoin. This effect has a tendency to make pressure on sales and the price decrease.

Crypto blog: https://chesatochi.com