Today the price of Bitcoin (BTC) plunged sharply after a highly volatile move that temporarily pushed BTC below $ 43,000.
Blame the whales?
The data says Cointelegraph Markets Pro e TradingView show the sudden contraction of Bitcoin, shortly after the asset lost psychological support at $ 50,000. This movement happened just when the analysts had agreed on the fact that the BTC / USD pair should have held $ 50,000 to preserve bullish momentum.
Among these also Michaël van de Poppe, collaborator of Cointelegraph, who had highlighted $ 49,000-49,500 as a fundamental support for the asset. Had it been broken, the price would have slipped to $ 44,000: that’s exactly what happened, albeit probably with much faster timing than imagined.
Subsequently he highlighted that Bitcoin simply had bridged a gap formed in GME’s futures. The price remains highly unstable: Bitcoin currently stands at around $ 47,000 after a rapid bounce.
Scott “The Wolf of All Streets” Melker blamed the big traders:
“The price of Bitcoin collapses on the very day that El Salvador makes Bitcoin a legal tender: it is clearly the work of the whales, there are huge volumes of sale.”
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