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Bitcoin Traders Battle Around Key Level
Bitcoin futures are hovering around a crucial level as we kick off the new week. BTC was seen breaking sharply lower last week, piercing beneath the 57,215 level, before buyers stepped in to drive price back up off lows. Continued buying through early European trading on Monday is seeing price attempting to break back above the level currently. The move lower last week came amidst growing supply pressure linked to heavy Bitcoin selling by US and German governments (seized asset sales) and unloading of the Mt. Gox bankruptcy estate. The combined value of potential supply here is around $22 billion. Indeed, if it ... (full story)
