Bitcoin Gives Back Half of September Gains as Selling Pressure Builds
Bitcoin has surrendered half its September gains as short-term selling, long liquidations and ETF outflows weigh on the market, according to Decrypt.
Bitcoin has given back half of its September gains, according to Decrypt, weakening its recent advance as selling pressure builds.
The pullback comes alongside selling by day traders and liquidations of leveraged long positions. Money is also flowing out of Bitcoin exchange-traded funds.
Decrypt reported that support on Bitcoin’s daily chart remained intact, although the price had less room to fall before testing that level.
Source: Decrypt
