Bitcoin’s Price Volatility Explodes as Liquidations Surge Past $800 Million

BTC dumped below $81K on Tuesday morning before it suddenly rebounded to over $83,000. All within a few hours.

Bitcoin’s price volatility has returned at the start of the business week, with the asset getting rejected at $84,000 yesterday, only to crash by over three grand before staging a notable comeback.

With most altcoins following a similar trajectory, it’s no wonder that the total value of wrecked positions has skyrocketed to well over $800 million on a daily scale.

BTC experienced a major leg down at the end of the previous business week when the bears drove it hard to an 18-day low of $80,400. However, the bulls finally stepped up at this point and helped it recover to $83,000 during the weekend.

The asset even tried to take down the next key level on the path of recovery at $84,000, but the bears intervened on Monday morning.

The subsequent rejection culminated earlier on Tuesday morning with another nose-dive. This time, though, BTC marked a higher low, dipping to just $80,850 (on Bitstamp).

Its rebound has taken it to almost $83,500 as of press time. The latest moves took place in just a few hours, and most altcoins mimicked them. ETH, for example, slumped to $2,410 before it recovered $100.