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【CoinDesk】Here’s Why Bitcoin Tumbled 11% in 24 Hours
The negative market sentiment that has been trending in the past few weeks continued until today's drop in the price of Bitcoin (BTC).
Lucas Outumuro of Into TheBlock said that Bitcoin and the entire cryptocurrency market is moving in tandem and is more affected by the recent negative sentiment.
Meanwhile, Jason Deane of Quantum Economics explained that a series of dismal news stories dominating all forms of crypto assets are fueling this sentiment.
On the other hand, Ben McMillan of IDX Digital Assets cited another reason, namely the presence of leveraged long positions that exacerbated Friday's sell-off at the Asian open.
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