Panic Sets In As Bitcoin Price Action Shifts Down To $41K

 

Cointelegraph Markets Pro and TradingView reports had shown how BTC/USD hit limited lows of $41,960 on Bitstamp which is its lowest since Sep. 30. This ugly event had made it possible for leveraged positions to wind down and traders ceding a 24-hour cross-crypto liquidation, passing $2.5 billion.

According to Cointelegraph, the scale of the dint had wiped out some important support levels, including Bitcoin's $1 trillion asset valuation which previously had been a popular choice for long bets. However, Bitcoin just avoided an attack on $40,000 support, something which would be a reason to "flip bearish" should it form weekly resistance. This is the latest Bitcoin news on Friday, Dec.3,.