Bitcoin Falls Below $83K as US Government Moves $332M in BTC to Coinbase Prime

Bitcoin ( BTC ) dropped to its lowest level of the month late Wednesday, hitting US$82,898 (AU$119,179), according to data from CoinMarketCap. At the time of writing, the price had recovered to US$83,388 (AU$119,881), but was still down 2.38% over the past 24 hours. Despite the drop, the Crypto Fear and Greed Index remains in Greed territory with a score of 60. The decline appeared to be “primarily driven by profit-taking and forced long liquidations, following a build-up in open interest and funding rates that left the market vulnerable to deleveraging”, Dominick John, an analyst at Zeus Research, told The…

Source: Crypto News Australia