King cryptocurrency Its unit crashed within minutes, falling below $98,000. For altcoin investors, losses may increase if this volatility continues. So what was the reason for this sudden drop in BTC price? What might altcoin investors worry about if it falls to how many dollars?
Bitcoin (BTC)
BTC price After exceeding $100,000, it suddenly fell to $97,625. The decline triggered after reaching the highest level of the last 24 hours is very similar to the movements that occur to hunt for liquidity in futures transactions.
A long position worth $48 million was liquidated in the last hour. Liquidations in 24 hours exceeded $550 million. Inflation data due on Wednesday may increase volatility on the macroeconomic front. QCP Capital In his assessment today, he mentioned that upward movements may be limited as the New Year holiday approaches.
MicroStrategy’s billion-dollar BTC purchase announcement between December 2-8 can also be considered among the reasons for the decline. Usually, such declines can occur in the markets after Saylor’s company makes an acquisition announcement.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
