Jakarta, Teknosia Indonesia. A day-to-day loss of $ 8,000 leaves the market shaking its head on one of the most volatile days in Bitcoin since the withdrawal of miners in China.
Bitcoin ( BTC ) fell sharply as buying and selling continued on September 7, as a risky day brought BTC’s price action below $ 43,000 on one of the most volatile days of the year.
Whales are blamed for a huge BTC sell-off
Data from Teknosia Markets Pro and TradingView captured the volatility when Bitcoin unexpectedly lost the psychological level of $ 50,000.
The move came just hours after analysts jointly agreed that the BTC / USD pair must hold the $ 50,000 level to continue the bullish momentum.
One of them, Teknosia Michaël van de Poppe, highlighted the $ 49,500 level as the point of no go back should it not hold as support. After that, he Mentioned $ 44,000 could be next.
Therefore he mentioned that Bitcoin had closed the weekend’s CME futures gap.
At the time of this writing, with cost still shaky, Bitcoin was trading at around $ 46,700, well below the wanted low, having hit a floor of $ 47,200.
Trader and analyst Scott Melker, known as “The wolf of all the streets,” blamed high-volume traders.
“Let the whales dump Bitcoin the day El Salvador converts it to legal Soft he referred to .
“Real quantity in sales too.”
As Teknosia reported , the largest cryptocurrency reached $ 52,960, a very nearly four-month high, on September 7, the day El Salvador followed Bitcoin as its currency alongside the US Greenback
