RATE Group | Bitcoin Faces “Gatling Gun” of Massive $100k Sell Orders on Bitfinex
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Bitcoin Faces “Gatling Gun” of Massive $100k Sell Orders on Bitfinex

09 Mar Bitcoin Faces “Gatling Gun” of Massive $100k Sell Orders on Bitfinex

Posted at 01:00h in Bitcoin News by

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The crypto market has found itself caught within an intense downtrend over the past day, with Bitcoin and most major altcoins incurring intense selloffs that have led them to erase the majority of the gains incurred throughout the early months of 2020.

It appears that this Bitcoin-driven selloff has been catalyzed by a massive influx of selling pressure from traders on margin trading platforms, who have been offloading significant amounts of cryptocurrency over the past several hours.

If this selling pressure doesn’t relent in the days ahead, it is highly probable that the crypto markets will see further near-term downside.

Bitcoin Leads Massive Crypto Market Selloff 

Bitcoin and the aggregated crypto market have posted notable losses today, which has been driven by BTC’s recent rejection at $9,200 that sparked a sharp movement to the support that had been established within the upper-$8,000 region.

Currently, Bitcoin is trading down roughly 9% at its current price of $8,250, which…

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