Bitcoin’s recent movement up towards its 2020 highs at $9,200 caught some bears by surprise, as it appeared to elucidate a significant amount of strength amongst BTC’s bulls.
Bears are currently fighting back, however, as one whale just put up a 500 BTC market sell on cryptocurrency exchange Binance, which could be one of the factors behind the crypto’s inability to stabilize above $9,000.
Coupled with this bearish BTC sell order is the fact that Bitcoin’s open interest is about to hit $1 billion, which is a level that has historically been touched just prior to massive selloffs.
Bitcoin Struggles to Hold Above $9,000 as Whales Fight Against Bulls
At the time of writing, Bitcoin is trading up 2% at its current price of $8,950, which marks a slight decline from its daily highs of $9,150 that were set yesterday evening when bulls attempted to push the crypto back towards its 2020 highs. Read More...