Institution: Cryptocurrency Rebounds After Short-Term Crash, Without Clear Catalyst

BlockBeats News, September 22nd, Institutional View on Cryptocurrency Trends: Starting from 13:59 Beijing time until the European market opened, Bitcoin faced some heavy selling pressure without a clear catalyst. Starting from 13:59 Beijing time, Bitcoin dropped over 2% in a few minutes, with Ethereum following suit with a 5% drop. Other cryptocurrencies were also affected, indicating that the entire crypto market seemed to be impacted. For example, SOL dropped 7% in just 3 minutes.

All of this happened without a clear catalyst. From a broader perspective, Bitcoin had just dropped to a key level of $111,900, a level that has remained unbroken several times over the past few months. This was also the reason for the subsequent price rebound as bargain buyers re-entered. (Golden Finance)