Bitcoin is pinned below $20K as the macro climate stifles hope for a sustainable BTC bull run By Cointelegraph
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Bitcoin is pinned below $20K as the macro climate stifles hope for a sustainable BTC bull run(BTC) crashed below $19,000 on Sept. 6, driving the price to its lowest level in 80 days. The movement not only completely erased the entirety of the 32% gains accrued from July until Aug. 15, it also wiped out $246 million worth of leverage long (buy) futures contracts.
Bitcoin price is down for the year but it’s important to compare its price action against other assets. Oil prices are currently down 23.5% since July, Palantir Technologies (NYSE:) has dropped 36.4% in 30 days and Moderna (NASDAQ:), a pharmaceutical and biotechnology company, is down 30.4% in the same period.
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Bitcoin is pinned below $20K as the macro climate stifles hope for a sustainable BTC bull run(BTC) crashed below $19,000 on Sept. 6, driving the price to its lowest level in 80 days. The movement not only completely erased the entirety of the 32% gains accrued from July until Aug. 15, it also wiped out $246 million worth of leverage long (buy) futures contracts.
Bitcoin price is down for the year but it’s important to compare its price action against other assets. Oil prices are currently down 23.5% since July, Palantir Technologies (NYSE:) has dropped 36.4% in 30 days and Moderna (NASDAQ:), a pharmaceutical and biotechnology company, is down 30.4% in the same period.
Continue Reading on Coin Telegraph
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