Bitcoin (BTC) prepared for a rare bear feature to return on May 8 after an overnight sell-off took the market ever closer to January lows.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC circles $34,400 lows
The pair had seen brief support around the $36,000 mark, but this gave way as thin weekend liquidity added to the volatility
Bitcoin liquidations themselves were limited, however, as market sentiment had long expected a deeper pullback after a tumultuous week on stock markets.
Crypto liquidations chart. Source: Coinglass
Updating his short-term price