Crypto Whale’s $200 Million Short Triggers 8.5% Bitcoin Price Plunge

Overnight, the bitcoin price fell from $11,900 to $10,765 as the valuation of the crypto market dropped by well over $20 billion within a span of hours.

Unexpected drop, is a swift recovery for bitcoin possible?

Josh Rager, a cryptocurrency technical analyst, said that if the bitcoin price closes below $11,500, a sharp drop below the $10,000 mark is a possibility.

“Bitcoin has pulled back near 26% (similar to May ’19) before it consolidated for weeks & continued up It’s not often we get two 26%+ pullbacks so close together in bull market So it’s a real buying opportunity if BTC closes below $11,500 tonight & we retest the $9k/$10ks,” he said.

Read more at CCN

#BTC #Whales #Corrections #Bearish

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