3 reasons Bitcoin abruptly dropped by 7.4% overnight
Cointelegraph
Published Jan 20, 2021 04:02AM ET
Updated Jan 20, 2021 07:20PM ET
The price of Bitcoin (BTC) dropped sharply from $37,800 to $35,000 overnight, liquidating $572 million worth of cryptocurrency futures positions.
There are three major reasons why the price of Bitcoin declined steeply in the past 12 hours. The reasons are an overheated derivatives market, growing doubt in the market, and the lack of upside volatility.
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Written By: Cointelegraph
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