
Cryptocurrencies
5 Key Reasons Bitcoin Price Dropped from $9,800 to $9,200 Overnight
The price of Bitcoin (BTC) experienced a sharp decline, dropping from $9,800 to a low of $9,200 across major exchanges overnight. This shift follows a period of relatively low volatility for Bitcoin over the past week, with prices fluctuating between $9,900 and $9,500.
Several factors contributed to this abrupt short-term decrease: a wave of liquidations on trading platforms, large investors (often referred to as "whales") looking for liquidity near support levels, an increase in miner selling activity, and a significant rise in the options market.