Bitcoin (BTC) hit all-time highs of $28,400 prior to crashing thousands of dollars on Dec. 27– the latest chapter in its Christmas trading frenzy.Cryptocurrency market overview. Source: Coin360BTC cost dips $1,900 in minutesData from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD gain and then lose big quantities in USD terms throughout trading on Sunday.After topping 15% 24-hour gains, Bitcoin experienced heavy selling pressure above $28,000. Source: TradingViewnalyst: “Bull run of bull runs has started” As Cointelegraph reported earlier in the day, Bitcoin set a number of records with its latest moves, including passing a $500 billion market cap for the very first time.In addition, Monday ought to see the biggest gap in Bitcoin futures markets ever created.This is gon na be the greatest CME gap in history pic.twitter.com/IWBsyQsXab— Saylor Moon Fan Club (@cryptoSqueeze) December 27, 2020
Because getting rid of $24,000 resistance, Bitcoin has traded in uncharted area with only unscripted sell levels creating fiction in what looks to be a progressively parabolic market.With institutional financiers taking a break, talk turned to retail buyers fuelling the most current phase of the Bitcoin bull run.” The bull cycle of bull cycles has begun, as a growing number of players are beginning to adopt towards Bitcoin and cryptocurrencies,” Cointelegraph Markets expert Michaël van de Poppe summarized to Twitter followers.Van de Poppe continued to eye $19,500 as a possible retracement zone, with altcoins in line to take advantage of Bitcoins example as soon as its own gains sluggish– potentially next month.Binance order book heatmap. Source: Material IndicatorsBinance order book data meanwhile reveals that a powerful sell wall at $30,000 will likely be the next significant hurdle for the BTC bulls. Title: Bitcoin rate crashes by 6.5% in minutes after striking $28.4 K sell wallSourced From: cointelegraph.com/news/bitcoin-price-crashes-by-6-5-in-minutes-after-hitting-28-4k-sell-wallPublished Date: Sun, 27 Dec 2020 12:34:16 +0000
Bitcoin price crashes by 6.5% in minutes after hitting $28.4K sell wall
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