Why Is Bitcoin Price Falling Today?

Bitcoin fell about $1,500 in 60 minutes on Thursday, slipping below $83,000 and wiping out more than $70 million in leveraged long positions over the same period. The drop followed a move on Wednesday that cleared a cluster of liquidity stacked near $84,400. Sentiment turned sharply bullish around those highs, a pattern that has often preceded pullbacks this month. Strong spot buying makes an immediate collapse less likely. The chart points to a possible retest of a fair value gap and support zone below, followed by a final push toward $85,500.

Also reported by Coincu.

Source: Coinpedia