3 reasons Bitcoin suddenly dropped 3% in 1 hour and recovered
The price of Bitcoin abruptly dropped over 3% in under an hour after surging to $13,350, but its high time frame log charts remain highly optimistic. Three factors likely triggered a quick decline in the price of Bitcoin (BTC) on Oct. 25. First, traders pinpoint the $13,300 to $13,500 area as a major resistance range. Second, futures and options markets are neutralizing. Third, weekend trading is seemingly amplifying volatility.The $13,300-$13,500 range is a key resistance area for Bitcoin in the short termBefore the sudden price drop occurred, BTC soared from $13,127 to $13,350. The....
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Bitcoin recovered quickly from $44,800 to over $50,000 in under 22 hours and here are three key reasons why. The price of Bitcoin (BTC) quickly recovered from around $44,800 to over $50,000 within merely 22 hours. Behind the rapid recovery are three major factors, including low funding rates, Square's $170 million Bitcoin purchase, and the spot market stabilizing.Bitcoin futures funding rates substantially dropAcross major futures exchanges, including Binance, Bybit and Bitfinex, the funding rate of Bitcoin has dropped to 0.01%.The Bitcoin futures funding rate was consistently above 0.1%....
Bitcoin rebounded by over 8% overnight and there are three key reasons behind the rally, in addition to macro factors. The price of Bitcoin (BTC) recovered by more than 8% overnight on March 1 following a steep drop during the weekend.There are three reasons the price of Bitcoin recovered swiftly in the past 24 hours. They include the recovering global stock market, rising Coinbase premium, and a typical weekend reversal.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingviewRising global stock market coincides with weekend reversalThe global stock market has started to recover as soon....
Bitcoin price slipped as the Dow Jones sharply dropped, but three key reasons might prevent a prolonged pullback. The United States stock market plunged as the Dow Jones Industrial Average (DJIA) dropped 358 points in pre-market trading. The Bitcoin (BTC) price dropped to as low as $10,374 across major exchanges, but a larger pullback is unlikely.The one-hour Bitcoin price chart. Source: TradingView.comThree key reasons could buoy the near-term sentiment of Bitcoin. The potential catalysts are the likelihood of a stimulus package, BTC’s strong technical reaction, and the resilient $10,5000....
Darkcoin price rose up earlier today to a high of 0.01232 BTC. This increase in price followed bitcoin's bullish rally which we noticed earlier today. Although the price rose above 62% Fibonacci retracement level, it dropped again below it an hour or so later. By examining the 1 hour Cryptsy (DRK/BTC) chart from bitcoinwisdom.com and plotting the 10 hour EMA (green curve) and the 20 hour EMA (orange curve) (look at the below chart), we can conclude the following: DRK price increased above the 10 hour and 20 hour EMAs right before the market's buying power pushed the price up to break the....