Bitcoin's Turbulent Ride: Whales Trigger $1,000 Plunge, Yet Resilience Prevails at $35K Support

Bitcoin Whales Spark $1,000 Drop, Price Resilience at $35K Introduction: The cryptoverse recently witnessed a seismic event as Bitcoin, the flagship cryptocurrency, experienced an unexpected and dramatic drop of $1,000 in just one hour. This abrupt price movement, driven by a cascade of liquidations targeting late Bitcoin long positions, sent shockwaves through the market and left traders scrambling to make sense of the situation. The $35K Support Test: The pivotal moment occurred on November 14 when BTC/USD tested the critical $35,000 support level, marking a significant juncture for Bitcoin's price action. The sell-side pressure was palpable, leading to multiday lows and sparking discussions among analysts about the potential implications for the broader market. BTC/USD chart. Source: TradingView Recovery Amid Whales' Selling Spree: Despite the intense sell-side pressure, Bitcoin showcased its resilience by finding substantial support at the $35,000 mark. This level acted as ...