- Bitcoin’s price has bounced wildly in the last 24 hours.
- The volatile price movement has led to significant liquidations.
- Market watchers initially blamed a misclassified Arkham alert for the wild price action.
One of the many reasons people invest in Bitcoin is its relatively high volatility, allowing it to record mouth-watering gains over the years. But Bitcoin’s volatility remains a double-edged sword, as market participants were quickly reminded in the last 24 hours.
Bitcoin’s Wild Swing Amid False Alarms
Bitcoin’s price reached above the $30,000 price point for the first time in a week on Wednesday, April 26, after an over 7% price rally. But the excitement in the crypto markets was short-lived, as the asset quickly gave up its 7% gain in a single hourly candle, dropping close to $27,000, before gradually clawing its way back above $29,000 at the time of writing.
The volatile price…
