TechFlow reported, Matrixport released a chart today indicating that Bitcoin suddenly plunged sharply this morning. The long positions bought last week due to the Fed's dovish comments may have been liquidated, as bullish momentum failed to sustain after Monday's trading session.
The current pullback was not triggered by any obvious event, suggesting that long liquidations could be the primary driver amid low liquidity conditions. If Bitcoin falls below the $59,000 level, it could trigger further market concerns.
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