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Bitcoin falls below $83K amid liquidity hunting on exchange order books
BTC/USD slipped below $82,700 for the first time since Sept. 21 after failing to retest last week’s above-$87,000 highs.
Bitcoin fell to weekly lows and dropped below $83,000 on Monday, joining weakness in US stock futures, according to Cointelegraph. The article links the move to US President Donald Trump not committing to permanently halting strikes on Iran.
Cointelegraph reports that BTC/USD fell below $82,700 for the first time since Sept. 21, as upside momentum gave way to liquidity hunting on exchange order books.
After Bitcoin’s highest weekly close since late January around $84,450, the pair failed to challenge eight-month highs above $87,000 from last week, Cointelegraph adds.
The article says a large patch of ask liquidity appeared, with over $30 million clustered around $85,700, a pattern it describes as often signaling targeted selling at that level.
Latest closeBitcoin $83,535.92 ▼1.1%