Bitcoin short-term holders panic after BTC price drops toward $40,000 — traders warn that worse may be to come.
Bitcoin (BTC) heads into week three of January still holding $40,000 after a wildly volatile start to the year — where next for BTC price?
Following the debut of the United States’ first spot Bitcoin exchange-traded funds (ETFs), price action has never been the same. Snap moves both up and down have surprised both long and short BTC traders — and the liquidation tally tells the tale.
As a new week begins, Bitcoin faces two narratives at once: some believe that the dip which came after the ETF launch will mark a healthy support retest, while others see the preceding local top as staying put for a long time.
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Source: https://cointelegraph.com/news/btc-speculators-dump-5b-5-things-bitcoin-this-week