Bitcoin price shows massive sell-off as it slid from $60,900 to $51,541. This crash comes after rumors of the US treasury charging several financial institutions for money laundering using cryptocurrency emerge. BTC could bounce around the 61.8% Fibonacci retracement level at $51,240. Bitcoin price is experiencing a massive sell-off, resulting in a breakout of a technical formation that contained it for more than three months. Coinbase direct and Bitcoin price crash On the 12-hour chart, Bitcoin price has shed nearly $9,000, bringing it down to $51,541. This crash seems to coincide with multiple sources on Twitter stating that the U.S. treasuries will be charging financial institutions for money laundering using cryptocurrencies. While this crash may be unrelated to Coinbase’s direct listing, Peter Schiff, an avid critic of cryptocurrencies, stated, Rather than being a watershed moment in the life of Bitcoin, the CoinbaseIPO may have marked the beginning of its death. The market-wide crash has resulted in $1.72 billion worth of long positions liquidated in the last hour alone. Expanding this range to 24-hours shows that 927,000 traders’ positions worth nearly $10 billion were wiped off, with $68.73 million being the largest liquidation so far. Bitcoin price witnesses first significant crash February Bitcoin price has dropped 19% over the last three days and 14% in the past 12 hours. This move has triggered a sell-signal from the SuperTrend indicator as BTC sliced through the 50 and 100 Simple Moving Averages (SMA) on the 12-hour chart/ Areas of interest include the 61.8% and 50% Fibonacci retracement levels at $51,240 and $47,022, respectively. BTC/USD 12-hour chart On the flip side, if investors begin to buy the dips, Bitcoin price could turn around and retest the 78.6% Fibonacci retracement level at $57,245. Due to massive institutional demand, investors could quickly scoop up BTC, which is now selling at a discount. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next XRP Price Prediction: Ripple bulls face extinction as profit-booking intensifies FX Street 2 years Bitcoin price shows massive sell-off as it slid from $60,900 to $51,541. This crash comes after rumors of the US treasury charging several financial institutions for money laundering using cryptocurrency emerge. BTC could bounce around the 61.8% Fibonacci retracement level at $51,240. Bitcoin price is experiencing a massive sell-off, resulting in a breakout of a technical formation that contained it for more than three months. Coinbase direct and Bitcoin price crash On the 12-hour chart, Bitcoin price has shed nearly $9,000, bringing it down to $51,541. This crash seems to coincide with multiple sources on Twitter stating that the U.S.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
