Sharp Drop in Bitcoin Pulls Price Down to $27,000! Here’s the Reason.

  • The price of Bitcoin was shaken by allegations of transfers related to the US government and Mt Gox.
  • Despite the news, Bitcoin quickly recovered and rose above 28,000 dollars.

The price of Bitcoin saw a sharp drop due to allegations of BTC transfers related to the US and Mt Gox.

Why is the Price of Bitcoin (BTC) Falling?

When it was revealed that American bank First Republic Bank was having problems, the price of Bitcoin reacted positively and rose rapidly to 30,000 dollars. FRC shares fell more than 29% today, dropping to 5.69 dollars.

Today, it was alleged that transfers related to Bitcoin, involving Mt Gox and the US government, had taken place. However, the BTC drop had already started before this allegation. Although investors attributed the drop to this, the news was later denied.

Before this news was announced, the price of Bitcoin experienced a sharp drop of 8%. This drop brought the Bitcoin price down to 27,000 dollars. However, this news was later denied and the Bitcoin price rose again above 28,000 dollars. At the time of writing, the Bitcoin price is trading at 28,400 dollars.

With this sharp drop, the amount of liquidation in the last 4 hours was 197 million dollars. Bitcoin accounts for 89.5 million dollars of this amount.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bhutan Government Moves 913 BTC ($107M) to Two New Wallets; Sovereign Bitcoin Reserves Still 9,652 BTC ($1.13B)

Bhutan BTC transfer: COINOTAG News reported on September 18...

ROBINHOOD US LISTS CRV

ROBINHOOD US LISTS CRV $CRV #CRV

FORMER PANTERA PARTNER TO LEAD SOLMATE WITH $300M SOLANA DAT IN UAE: BBG

FORMER PANTERA PARTNER TO LEAD SOLMATE WITH $300M SOLANA...

TETHER-BACKED PLASMA TO TGE ON SEPTEMBER 25TH: TWEET

TETHER-BACKED PLASMA TO TGE ON SEPTEMBER 25TH: TWEET Link
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img