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Many traders blamed futures trading for the drastic drop in the price of Bitcoin. Futures trading platforms account for a huge portion of the exchange’s volume. These exchanges include Bitmex, Binance Futures and FTX.
During volatile financial times, traders who use borrowed capital to trade in Bitcoin futures may be forced to place large sell orders to cover.
I’m not sure that any technical analysis could have predicted what has happened during the past week, but if you ever wanted to buy low, this could be your chance!