Why is Bitcoin price volatile today?
Bitcoin price whipsawed to $66,000 before recovering the top of its intraday range. Analysts explain why BTC is volatile today.
Bitcoin (BTC) price dropped to an intra-day low at $66,569 on July 22, less than 24 hours before the much-awaited launch of spot Ethereum ETFs in the United States.
The bullish momentum that propelled BTC above $68,000 falls under question as traders struggle to secure a few daily closes above $68,000.
Apart from the impact of US President Joe Biden’s withdrawal from the November presidential race on Bitcoin’s price, the pioneer cryptocurrency is facing yet another issue: a strengthening US dollar.
Bitcoin price whipsawed to $66,000 before recovering the top of its intraday range. Analysts explain why BTC is volatile today.
Bitcoin (BTC) price dropped to an intra-day low at $66,569 on July 22, less than 24 hours before the much-awaited launch of spot Ethereum ETFs in the United States.The bullish momentum that propelled BTC above $68,000 falls under question as traders struggle to secure a few daily closes above $68,000. Apart from the impact of US President Joe Biden’s withdrawal from the November presidential race on Bitcoin’s price, the pioneer cryptocurrency is facing yet another issue: a strengthening US dollar.Read more Â