Bitcoin Soars to New Heights, Plunges Over 14%: Nearly 900 Million in Long Positions Liquidated – Were Selling by Veteran Miners a Trigger for the Drop?

Bitcoin Soars to New Heights, Plunges Over 14%: Nearly 900 Million in Long Positions Liquidated - Were Selling by Veteran Miners a Trigger for the Drop?

Bitcoin Soars to New Heights, Plunges Over 14%: Nearly 900 Million in Long Positions Liquidated - Were Selling by Veteran Miners a Trigger for the Drop?

Despite Bitcoin’s inability to hold steady at the price level of $69,000, many market participants believe that the current downturn actually presents an opportunity for investors to accumulate chips. Will Clemente, co-founder of Reflexivity Research, pointed out that Tuesday’s events reminded him of Bitcoin’s performance around Thanksgiving in 2020. At that time, the bulls were focusing on breaking through the price level of $20,000, but Bitcoin experienced a sharp drop of 15% after reaching $19,500.