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BTC/USD suddenly dropped from $9,230 to $9,033 in a matter of minutes. The explosive sell-off almost took Bitcoin below $9,000 twice, although bulls are holding on for now.

BTC/USD 5-minute chart

BTCUSD

An unexpected drop has taken Bitcoin towards $9,033 breaking through several support levels on the 5-minute chart. It’s unclear what caused the dip, but the bulls are not seeing an immediate bounce which could indicate another leg down is closeby.