Top Traders Debate Future of BTC After Bitcoin Price Drops to $8.6K
Cointelegraph
Published Jun 03, 2020 11:43AM ET
Updated Jun 03, 2020 01:20PM ET
The price of Bitcoin (BTC) suddenly dropped from $10,000 to $8,600 on BitMEX as nearly $140 million worth of long contracts were liquidated. The pullback came merely 16 hours after BTC surged to $10,473, testing the dreaded $10,500 resistance level.
Bitcoin typically sees a heightened level of volatility when it approaches key dates. Crucial periods in the cryptocurrency market include CME futures expirations and the closure of a weekly or monthly candle.
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Written By: Cointelegraph
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