Bitcoin drops under $83K as liquidity hunting keeps bulls from targeting yearly open
Bitcoin joined US stock futures in dropping on Monday after US president Donald Trump did not commit to permanently halting strikes on Iran.
Bitcoin joined US stock futures in dropping on Monday after US president Donald Trump did not commit to permanently halting strikes on Iran.
Bitcoin (BTC) fell to weekly lows on Monday as upside momentum gave way to liquidity hunting on exchange order books.
After posting its highest weekly close since late January at around $84,450, the pair failed to mount another test of its eight-month highs above $87,000 seen last week. Instead, a large patch of ask liquidity appeared, with over $30 million clustered around $85,700. Sudden, conspicuous liquidity at a price level often signals a calculated attempt by large traders to influence price direction.
“I don’t want to say that. I don’t want to say that. I mean, it’s possible, but I just don’t want to say that,” he said at the PGA Tour Presidents Cup on Sunday, quoted by Fox News.