Bitcoin Bloodbath: Market Volatility Sparks Panic, Wipes Out $1 Billion In Open Interest
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In the last 24 hours, Bitcoin (BTC) has experienced a sharp increase in volatility, with prices fluctuating between $29,000 and $27,000, given the lack of liquidity in the market. This sudden price action has had a significant impact on bulls and bears. However, as of this writing, Bitcoin has managed to recover the $29,000 level, and it remains to be seen if it can continue to recover and consolidate above its key psychological level of $30,000, supporting the continuation of its bull run or if it will be further slumps in the coming days or weeks. False Rumors Cause Bitcoin
Bitcoin had been trending over $31,000 for the better part of Friday after reclaiming this support level from the bears. However, this did not last long as the digital asset saw a flash crash that sent its price spiraling toward the $29,000 level. SEC Says ETF Filings Are Inadequate On…
Bitcoin price moving lower below the $29,500 zone. BTC remains at risk of more downsides below the $29,000 support zone. Bitcoin is still trading well below the $29,650 resistance zone. The price is trading below $29,300 and the 100 hourly Simple moving average. There is a connecting bearish trend line…
Bitcoin bears re-entered the marketplace on Saturday, as prices moved closer to a multi-week low to start the weekend. BTC once again fell below $29,000, whilst ETH continues to move lower, and now... [[ This is a content summary only. Visit my website for full links, other content, and more!…