Wild swings rocked Bitcoin today, wiping out positions on both sides of the market.
A cooler-than-expected PCE reading initially sparked a quick +$1,700 surge, triggering $60 million in short liquidations within 15 minutes. However, the rally immediately reversed as $BTC
plummeted -$2,200 to $83.8k over the next hour, knocking out $56 million in long positions.
With today's monthly candle close on the line, expect the intense tug-of-war between bulls and bears to keep volatility high.
A cooler-than-expected PCE reading initially sparked a quick +$1,700 surge, triggering $60 million in short liquidations within 15 minutes. However, the rally immediately reversed as $BTC
plummeted -$2,200 to $83.8k over the next hour, knocking out $56 million in long positions.
With today's monthly candle close on the line, expect the intense tug-of-war between bulls and bears to keep volatility high.
