Bitcoin Flash Crash Pauses as Goldman Sachs Announces Crypto Services

Bitcoin Flash Crash Pauses as Goldman Sachs Announces Crypto Services


Bitcoin underwent a mini flash crash on Wednesday as its price fell from $59,400 to nearly $57,000 in just five minutes of trading.

Analysts blamed overleveraged long positions for the downside move, with the plunge liquidating about $600 million worth of extended bullish contracts across major futures exchanges. The wipeout followed up with a short sustainability period as Bitcoin maintained a short-term price floor at around $58,000.

Bitcoin vows to retest $60,000-breakout. Source: BTCUSD on TradingView.com

Trending: WATCH: What You NEED To Know About SPARS

Heading into the US session, the flagship cryptocurrency mostly wobbled between profits and losses. Some respite to bulls came from Goldman Sachs, which announced that it would soon offer its first investment services for bitcoin and other cryptocurrencies to clients of its private wealth management group.

Anti-Inflation Narrative Picks Momentum

Mary Rich, global head of digital assets for Goldman’s private wealth management division, confirmed in an interview with CNBC that they would offer clients a “full-spectrum” of cryptocurrency investment services, “whether that’s through

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend