Crypto Daily – A spike up to $104,000, followed by a plunge down to $92,000 all happened in just one day for the ($BTC) price. Huge volatility on Thursday left more than 158,000 liquidated to the tune of $873 million. What’s next for Bitcoin?
Massive volatility liquidates traders
Massive volatility on Thursday caught many traders unawares. From almost touching $104,000 early on Thursday, the price went sideways for the next 12 hours before a dip over the next few hours that went below $100,000.
However, what was to come caused panic among traders, as within the space of a few minutes the price plunged spectacularly from $99,000, all the way down to $92,000, liquidating the vast majority of long positions as it did so.
A precipitous nosedive
Source: TradingView
The hourly time frame for $BTC shows just how precipitous the nosedive in the price was on Thursday. Not many would have foreseen such a sharp descent in the price, and therefore breached…
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