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Short-term holders fuel volatility, and geopolitics panic markets, as BTC falls below $40,000.

With bitcoin trading mostly sideways during the weekend, without any major movement, the top cryptocurrency by market cap still fell under the important $40,000 mark. According to analysts’ data, short-term holders continue to be the main driver of bitcoin’s (BTC) volatility.

The market price of bitcoin stayed around $44,000 during most of last week, printing a seven-day top on Wednesday at just over $44,500, but started to decrease on Friday. bitcoin barely managed to hold above $40,000 over the weekend but fell through on Sunday. Over the last seven days, bitcoin is down about 8%, at the moment of writing bitcoin is up 2.2% in the past 24 hours, trading at $39,145.

Short-term holders main driver of BTC volatility

Read More: Source cryptoslate.com

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