Bitcoin Price Falls Hundreds of Dollars Within an Hour


Bitcoin, which hovered above $ 9,500 in the morning hours today, has recently dropped to $ 8,900.

Bitcoin price started to drop rapidly around 17:00 today. Bitcoin price, which was slightly above $ 9,300, fell below $ 9,000 in just one hour.

Cryptocurrency analysts like Scott Melker said that uncertainty prevailed in the market today and emphasized that it is unclear in which direction Bitcoin will move.

The downward movement of Bitcoin after this uncertainty affected especially the futures traders. According to Datamish data, a long position of 20 million dollars was liquidated in just 1 hour in BitMEX.

What’s next?
After the price of Bitcoin fell to the level of 8 thousand 900 dollars, it reached the level of 9 thousand 100 dollars. But as Wolfe puts it, danger bells continue to ring for Bitcoin.

Meanwhile, Crypto Michael draws attention to how important the $ 9 thousand level is for Bitcoin. According to his views, if Bitcoin goes below this level, the next target will be the region of 8 thousand 200-8 thousand 500 dollars.



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