The previous 12 hours have actually been rather tense on the cryptocurrency market. Bitcoin, along with other cryptocurrencies, went through a huge correction, resulting in nearly $1.3 billion liquidations in 12 hours.
- Today, Bitcoin was trading at over $41,000, even though it was apparently trapped in a range in between $39,600 and $41,500 for more than a day with no decisive moves in any direction.
- Nevertheless, it all began a bit more than 15 hours back when the price tanked from $41,000 to about $38,900.
- After that, we saw a couple of hours of stability, but the bears weren’t done yet. Earlier today, the price tanked from $39,800 to $37,000 and ultimately dropped to $34,322 before recuperating to its present rate of around $38,000.
- This implies that BTC visited almost $7,000 or more than 16%.