Bitcoin Price Drops to $101K, Where’s the Bottom?

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The cryptocurrency markets continue bleeding out, with Bitcoin dropping to as low as $101,000 earlier today. At the time of this writing, BTC recovered slightly and trades above $102,000 but analysts are scraping for answers and looking for the local bottom. Source: TradingView As seen from the 1-hour chart, at least on that time frame, the cryptocurrency has been in a clear downtrend for the past five days, marking lower highs and lower lows consistently. Data from Coinglass also reveals elevat...