BTC price sheds $1,000 in an hour
Bitcoin (BTC) experienced a significant drop in price, losing over $1,000 in just one hour. The largest cryptocurrency found support at the $35,000 mark, but analysts noted a lack of appetite for buying BTC at previous levels.
Bitcoin whales sell off
Bitcoin whales, large holders of the cryptocurrency, have been selling off their holdings as the price rose. More than 15 wallets with over 1,000 BTC sold or redistributed their holdings, causing the number of whale wallets to reach its lowest point in a month.
Market volatility and long liquidations
The sudden drop in BTC price caught traders off guard, resulting in the highest volume of daily long BTC liquidations in several months. Cross-crypto longs were liquidated to the tune of nearly $300 million.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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