The price of (BTC) suddenly dropped from $10,000 to $8,600 on BitMEX as nearly $140 million worth of long contracts were liquidated. The pullback came merely 16 hours after BTC surged to $10,473, testing the dreaded $10,500 resistance level.
Bitcoin typically sees a heightened level of volatility when it approaches key dates. Crucial periods in the cryptocurrency market include CME futures expirations and the closure of a weekly or monthly candle.
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