Bitcoin slid more than 3% to below $30,000 on Wednesday morning. While the sell-off didn’t appear to stem from any immediate fundamental reason, an unexpectedly high U.K. March inflation figure of more than 10% may have influenced market sentiment. Liquidations may have also played a role. “Bitcoin saw some decent liquidations on Binance, which dropped as a consequence of long rekts being washed out early this morning,” said Laurent Kssis, a crypto trading adviser at CEC Capital. There was close to $100 million in liquidations, according to Kssis, who added that many investors are buying at under $29,200. “This was clearly an opportunity for many investors who had anticipated the drop to get back in at lower levels,” he said.
Source: https://www.coindesk.com/markets/2023/04/19/first-mover-americas-bitcoin-slides-toward-29k/?utm_medium=referral&utm_source=rss&utm_campaign=headlines