An $8,000 daily loss leaves the market shaking its head on one of the most volatile days in Bitcoin since the China miner rout.
Bitcoin (BTC) fell sharply as trading continued on Sept. 7 as a volatile day took BTC price action below $43,000 in one of the most volatile days of the year.
Data from Cointelegraph Markets Pro and TradingView captured the volatility as Bitcoin suddenly lost the psychological $50,000 level.
One of them, Cointelegraph’s Michaël van de Poppe, highlighted $49,500 as the point of no return should it fail to stick as support. After that, he said, $44,000 could be next.
He subsequently noted that Bitcoin had closed the weekend’s CME futures gap.
At the time of writing, with prices still unstable, Bitcoin traded at around $46,700.