- A flash crash was triggered by fake news about the alleged sale of 9,800 BTC by the U.S. government.
- The congestion of the Bitcoin and Ethereum blockchains has caused uncertainty in the crypto market.
- Unconfirmed rumors concerning Binance US and Grayscale have been circulating.
The recent deep pullback of Bitcoin is not without its complexities. While good news on Wednesday, May 10th, about the continued fall of the CPI drove the Bitcoin price to as high as $28,317, fake news about an alleged sale of 9,800 BTC by the U.S. government hit the market, causing a flash crash that it has yet to recover from.
Uncertainty and Bearish Pattern Fuel Bitcoin Market Dump
Uncertainty is currently quite high in the Bitcoin and crypto market, with the DXY hovering above historically crucial support at 101.8.
The departure of Jump and Jane Street from the U.S. crypto market due to regulatory uncertainty has made the
