As has been a familiar trend during the upswing over the past six weeks, a wave of sell orders was likely sitting close to a round number. When bitcoin approached $38,000, the sell orders took over, sending the price lower. That, in turn, triggered liquidations of leveraged long positions, sending the price hurtling further downward.
Related posts
-
Dutch Regulator Warns of Crypto Pump-and-Dump, New Regulation to Ban These Schemes
The Dutch Authority for the Financial Markets (AFM) has... -
Coinbase Sees Strong Q4 for Bitcoin, Fueled by US Rate Cuts, China Stimulus
Coinbase Institutional’s report highlights optimism for the crypto market, driven by expectations of U.S. rate cuts... -
ETH Rally Pushes Profitability To Nearly 70%
Este artículo también está disponible en español. Ethereum’s movement last week was full of mixed signals...