Analyst Explains Why Bitcoin Dumped to $65K on Saturday: Details

The cryptocurrency market is in a knockdown state for over a week now, with bitcoin plunging from $81,000 to just under $65,000 as of Saturday. What’s most surprising is that the latest leg down took place over the weekend, a period known for a lack of major moves – at least over the past few years – especially when there’s no major cathartic event, such as a new war starting somewhere. Popular analyst Ted Pillows offered an interesting insight into what caused the move. Blame it on Leverage? CryptoPotato already explored in great detail the broader market reasons behind BTC’s major collapse from the recent local peak at $81,000. However, they didn’t explain (at least until the last portion) why the asset kept plunging over the weekend.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CryptoPotato.