Amazon’s retraction against the mass speculation that the retail giant will be accepting BTC payments was the main causative factor of the sudden drop. Ether was even pushed further down as well.
BTC price went straight up when Amazon announced a job advertisement connected to crypto. However, a couple of hours later, an Amazon spokesperson denied claims that Bitcoin will be added as a payment method this year.
Bitcoin peaked at around US$40,545 as the investors rushed with their bets with the speculation of a bearish stride. There were over $950 million of crypto shorts liquidated which is the highest since May of the current year.