The cryptocurrency market plummeted, and the price of Bitcoin fell below $43,000 in a matter of minutes

Bitcoin (Bitcoin) It fell sharply due to the continuation of trading on September 7, because on one of the most volatile days of the year, the price of BTC fell below $43,000.

BTC/USD 1-hour candlestick chart. Source: TradingView

Whales blamed for major BTC sell-off

Data from Cointelegraph Markets Pro with Transaction view As Bitcoin suddenly lost its psychological level of $50,000, it captured the volatility.

The move happened a few hours later by the analyst Mutually agreed that BTC/USD must hold 50,000 U.S. dollars To maintain the bullish momentum.

One of them is Michaël van de Poppe of Cointelegraph, who emphasized that $49,500 is a way of no return if it cannot be used as support. He said that after that, the next one might be $44,000.

He subsequently famous Bitcoin has closed the CME futures gap over the weekend.

At the time of writing, as the price is still volatile, Bitcoin is trading at approximately US$46,700-well below the expected minimum price, reaching a bottom of US$47,200.

Trader and analyst Scott Melker, known as the “wolf of every way,” blames block traders.

“On the day El Salvador made it legal tender, let whales dump Bitcoin,” he said Said.

“The same is true for the actual number of sales.”

As reported by Cointelegraph, The largest cryptocurrency reached $52,960 on September 7-a nearly four-month high-the day El Salvador adopted Bitcoin as its currency with the U.S. dollar.