Bitcoin Price Crashes $800 in Minutes as Bears Eye $9K Support Next

Bitcoin (BTC) price dropped $800 in 15 minutes July 27 after a dramatic bearish move destroyed support at $10,000. 

Bitcoin 24-hour price chart. Courtesy of Coin360

Bitcoin traders eat their wallets

Traders were scratching their heads on social media Saturday in the wake of the sudden losses, with BTC/USD crashing from $10,180 to $9,410.

At press time, the pair had recovered marginally to circle $9,500, while a lack of obvious factors left commentators struggling to understand the market. 

As Cointelegraph reported, a return to $10,000 earlier came as a surprise after a similar uptick occurred in a matter of minutes. 

Previously, regular commentator Josh Rager had eyed a break below $9,600 as a gateway to lower levels, with the potential for $9,000 to also fall.

Some had anticipated volatility continuing in the short term. On Twitter, the trader known as CryptoCohen sounded the alarm hours before the $800 losses.

“Could be a larger correction in play — could take a lot longer too…