3 reasons Bitcoin tumbled below $30,000 in a surprise overnight correction
Bitcoin's fall from from $37,000 to below $30,000 within 48 hours saw the biggest daily red candle ever. The price of Bitcoin (BTC) is continuing to reject the $35,000 resistance level, falling below $30,000 briefly overnight on Jan. 22. BTC has pared some losses since, bouncing above $31,500. At these prices, however, BTC/USD is headed for its worst week ever, losing over $5,000 in the past four days, as the bulls attempt to establish $32,000 as new support. BTC/USD 1-week candle chart (Coinbase). Source: TradingviewThere are three main reasons why the price of Bitcoin dropped so steeply....
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Bitcoin price is down more than 10% from the weekend’s new all-time high set above $60,000 after an overnight selloff. The now sizable correction was first assumed to be a massive whale dumping more than $1 billion in BTC on crypto trading platform Gemini, but ultimately turned out to be something else. Here’s what actually caused the correction, and why the market was so easily shaken by what was ultimately a non-event. Whale Watching: Bitcoin […]
Last night we published our second of our twice daily bitcoin price watch pieces ahead of the Asian session. The primary thesis behind the piece was that we would be tightening up both our range and our risk parameters, with the goal of reducing our exposure to any correction in the bitcoin price overnight while also leaving us open to draw a profit from any action. Price has now matured across the session, and we are now mid way through Thursday's European trading. So, at this point, how did price fare overnight, did our strategy get us in and out of the markets as a response to....
Bitcoin’s weakness and Dogecoin’s epic pump are signals that the market could be overheating and in need of a short-term correction. Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap. This lofty market cap comes as a surprise to many since the project has no active developers and is only a meme coin, thus the current rally brings back memories of the excesses seen during the ICO boom in 2017.Rallies like the one seen in Dogecoin indicate that several traders have entered the....
The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link! Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekThree reasons Bitcoin tumbled below $30,000 in a surprise overnight correctionIntensifying sell pressure saw Bitcoin briefly plummet below $29,000 for the first time....
An overnight price correction in the Bitcoin market after the Federal Reserve Chairman Jerome Powell's testimony paused midway as Elon Musk came to the rescue.