The post Why did Bitcoin (BTC) Price Drop 7% After Hitting ATH? appeared first on Coinpedia Fintech News
Bitcoin (BTC) bulls have triumphed over the past few weeks, thus raising optimism of a super cycle ahead. Cash inflow into the Bitcoin investment products has remained high despite the high volatility since the calendar flipped in January. According to weekly data analysis provided by CoinShares, Bitcoin netted $1.72 billion in cash inflow last week, representing 94 percent of all the cash inflows to the crypto investment products last week.
Nevertheless, crypto cash rotation has favored altcoins with great fundamentals like Optimism (OP), which has joined the digital asset club in the price discovery phase.
Heavy Liquidation Preceding More Short-Term Pain
According to market data provided by Coinglass, more than $675 million was liquidated from the crypto derivatives space in the last 24 hours leading to Tuesday during the early New York session. Heavy crypto liquidati
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