Bitcoin Price Falls Below $600 as US Government Prepares for 30,000 BTC Selloff
The price of bitcoin on the CoinDesk US Bitcoin Price Index (BPI) declined on 12th June to a low of $568.87 after reaching a high of $634.38. The dramatic price swing, however, was followed by a slight recovery to $582.29 at press time. The price decline began at 13:00 (UTC) before accelerating sharply at 19:00, dropping from $616 to the day's low. However, by 22:30, USD bitcoin prices rallied to $592.77 before declining again to press time levels. The decline coincided with the US Marshall Service's announcement it will beinitiating an auction of 30,000 BTC confiscated from the infamous....
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Bitcoin saw a strong overnight selloff that caused its price to erase most of the gains incurred throughout the past couple of days This selloff came about at a crucial resistance level, with the selling pressure at $13,800 proving to be significant This is a historical level, as it is where BTC rallied to before facing a strong rejection in the summer of 2019 The rejection here was grave, but the cryptocurrency still has multiple […]
Bitcoin has come a long way from where it was just under one year ago, with the March 12th selloff sending the cryptocurrency to lows of $3,800 – from which point it has seen exponential upside growth. One analyst is now noting that BTC’s days seeing sharp selloff events like this one are over, with its […]