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Bitcoin (BTC) fell to weekly lows on Monday as upside momentum gave way to liquidity hunting on exchange order books.
Key points:
- Bitcoin reversed downward after over $30 million in ask liquidity was added to exchange order books at around $85,700.
- Crypto and US stock-market futures dropped after US president Donald Trump refused to rule out further strikes on Iran.
- Analysis by markets commentator Aksel Kibar warned that Bitcoin risked returning to its sub-$80,000 range.
Liquidity manipulation halts BTC price upside
Data from TradingView showed BTC/USD dropping below $82,700 for the first time since Sept. 21.
BTC/USD four-hour chart. Source: Cointelegraph/TradingView
After posting its highest weekly close since late January at around $84,450, the pair failed to mount another test of its eight-month highs above $87,000 seen last week. Instead, a large patch of ask liquidity appeared, with over $30 million clustered around $85,700. Sudden,…
