Bitcoin (BTC) heads into a new week after another weekend of major volatility — but this time, the way was down, not up.
As the market loses $7,000 — the most since the “vertical” price rises began — Cointelegraph presents five things which could keep it moving in the coming days.
BTC dip makes Guggenheim want to sell
Top on the list of topics among Bitcoiners will be the cryptocurrency’s sudden fall over Saturday and Sunday.
From highs of near $42,000, BTC/USD faced a sell-off out of hours, with bears driving down the pair to current local lows of $32,300.
The drop is the most this year and since the Coronavirus caused a cross-asset crash in March 2020, but was widely predicted by analysts, who argued that Bitcoin had become overextended.
“#Bitcoin crashes >10%: The worst Bitcoin plunge since March is reminiscent of the last halving cycle in 2016/2017. The rally was followed by a slump of more than