Spike in BTC Exchange Inflow Preceded Bitcoin Price Correction to $8.6K

Cointelegraph

Published May 25, 2020 07:27PM ET

Updated May 26, 2020 09:20PM ET

On May 24, the price of Bitcoin (BTC) dropped to $8,800 from $9,300. In the next 24 hours, it declined to as low as $8,600, leaving the top ranked digital asset on CoinMarketCap at risk of a bigger pullback.

The initial drop of Bitcoin below $9,000 coincided with a massive inflow of BTC into exchanges and Bitcoin on-chain data indicates key players were selling over the weekend.

Continue Reading on Coin Telegraph