3 reasons Bitcoin suddenly dropped 3% in 1 hour and recovered
Cointelegraph
Published Oct 25, 2020 07:42AM ET
Updated Oct 26, 2020 09:40AM ET
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.
Before the sudden price drop occurred, BTC soared from $13,127 to $13,350. The dominant cryptocurrency rallied swiftly to an area of interest for sellers as more miners moved BTC to exchanges.
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Written By: Cointelegraph
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