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BTC Selling Spree Strikes Tuesday Morning

Emily Mason

Summary: Investors went on a Bitcoin selling spree on Tuesday morning causing the coin's value to drop from $10,137 to $9,298 in the span of five minutes, as recorded by Bitpush data. The sudden drop comes the day after the coin managed to close out the month above $9,500, a milestone it had repeatedly failed to ...

Investors went on a Bitcoin selling spree on Tuesday morning causing the coin's value to drop from $10,137 to $9,298 in the span of five minutes, as recorded by Bitpush data.

The sudden drop comes the day after the coin managed to close out the month above $9,500, a milestone it had repeatedly failed to hit, causing analysts to set their sights on the $10,000 mark. At the time of publication, Bitcoin is trading at $9,529. 

Despite volatility in recent months, investors are likely to hold onto their BTC believing that the coin is a safe haven asset, coindesk.com reported. Recent glassnode data showed that 60% of BTC hasn't been traded in over a year.

By Emily Mason

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