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3 reasons why Bitcoin price violently rejected near $20,000 – Cointelegraph
Bitcoin price strongly rejected near the $20,000 resistance, leading analysts to debate whether a quick recovery is on the cards.
Bitcoin (BTC) finally managed to secure a new all-time high, but the digital asset rejected strongly near $20,000. On-chain analysts say a sell-off from whales and miners, combined with the $20,000 level acting as a resistance level caused a fierce drop.
BTC/USD 15-minute chart. Source: TradingView
What led whales and miners to sell Bitcoin?
For whales and high-net-worth investors, liquidity is the most important factor. Because they deal with large orders, they need to calculate the slippage their…
