Return of Darth Maul: Bitcoin Price Pumps And Dumps In 5% Shakeout

Bitcoin price today has been more volatile than normal, and that’s a statement in and of itself. The normally notoriously explosive cryptocurrency rocketed more than $2,000 and nearly 5% this morning, only to then plummet and wipe out the entire rally and then some. The fall took the cryptocurrency down by more than 7% and $3,000, leaving liquidations in both directions behind. What caused the sudden storm, and is this just the calm in the eye, or is the madness over? Pump and Dump Or Face-Off Between Bull And Bear Whales? Bitcoin saw a steep rejection from above $50,000 and bulls are now scrambling to build meaningful support that holds. If not, a deeper drop and a bear market remains a possibility. For now, whales are either playing games, or waging war with one another where both sides are losing big. Related Reading | Bitcoin Price “Pitchfork Channel” Could Pin-Point The Last Dip Ever A sharp move today in markets saw liquidations on both sides of the trade, and the volatility alone now has the market in a state of fear. A pump this morning caused Bitcoin price to rise more than $2,000 and around 5%, only to immediately drop more than 7% and $3,000 to sweep support and lows. Anyone caught buying what they thought was a breakout, is now at a loss. And it all played out in less than one-hour from bottom to top then back down to the bottom. The move pictured above took less than an hour | Source: BTCUSD on Tra...