4 Reasons Bitcoin Price Suddenly Slid Below $9K, Liquidating $55M By Cointelegraph

4 Reasons Bitcoin Price Suddenly Slid Below $9K, Liquidating $55M


4 Reasons Bitcoin Price Suddenly Slid Below $9K, Liquidating $55M

The price of (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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