4 Reasons Bitcoin Price Suddenly Slid Below $9K, Liquidating $55M
Cointelegraph
Published Jun 25, 2020 01:58AM ET
Updated Jun 25, 2020 03:40AM ET
The price of Bitcoin (BTC) dropped below $9,000 from $9,660 within seven hours. The 7% plunge comes as $55 million worth of long futures contracts were liquidated on BitMEX.
Four factors are likely behind the sudden decline in the price of the top cryptocurrency by market capitalization. Namely: stocks sliding, selling pressure from miners, an extended period of low volatility, and repeated rejection of $10,000.
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Written By: Cointelegraph
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