Why did Bitcoin fall below $33K? Coinbase whales might have the answer

Cointelegraph

Published Jan 21, 2021 04:39AM ET

Updated Jan 21, 2021 06:20AM ET

Bitcoin (BTC) slid under $33,000 for the first time in over a week on Jan. 21 as selling pressure gathered to drive price action lower.

Data from Cointelegraph Markets and TradingView showed BTC/USD continuing its downtrend on Thursday, dropping 7.% on the day and failing to bounce off $33,000 support.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
Coinbase Premium vs. BTC/USD chart. Source: Ki Young Ju

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