RATE Group | Bitcoin’s “Very Damaging Drop” Saw Bulls Lose the Upper Hand, Fundstrat Analyst Says
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Bitcoin’s “Very Damaging Drop” Saw Bulls Lose the Upper Hand, Fundstrat Analyst Says

09 Sep Bitcoin’s “Very Damaging Drop” Saw Bulls Lose the Upper Hand, Fundstrat Analyst Says

Posted at 17:19h in Bitcoin News by

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Bitcoin’s “Very Damaging Drop” Saw Bulls Lose the Upper Hand, Fundstrat Analyst Says

Robert Sluymer, a technical guru at Fundstrat Global Advisors, has recently revealed bitcoin’s technical outlook has significantly deteriorated after the cryptocurrency saw its price drop over $1,000 in about 24 hours.

Bitcoin’s drop came shortly after a mysterious whale moved over $100 million worth of BTC to crypto exchanges, and after reports falsely claimed Goldman Sachs was dropping its plan of launching a bitcoin trading desk in the near future. The firm’s CFO revealed these were false, as the company is still working on it.

In the last 24-hour period, the cryptocurrency dropped to a $6,190 low before climbing back to $6,390 at press time. It’s still down by 1.1% in said period, according to CryptoCompare data.

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The drop saw its price fall below its…

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