Bitcoin has chosen violence. The first crypto by market cap trades at $57,873 with a 3% loss in the daily and an 11.2% loss in the weekly chart.
BTC on a downtrend in the daily chart. Source: BTCUSD Tradingview
After making a push close to $60,000 Bitcoin was rejected and has trended to the downside for the past 2 hours. The benchmark crypto might have reacted to the potential re-appointment of the U.S. FED Chair Jerome Powell to his position for a second term.
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Data from Material Indicators suggest the move to the upside was driven by investors with orders with an estimated value above $1 million (whales). As seen