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Bitcoin Dives Below $35,000, Printing Four Consecutive Red Candles

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Sat, 05/29/2021 - 10:03
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Yuri Molchan
Digital gold has plunged below the $35,000 level as the volatile weekend takes off
Bitcoin Dives Below $35,000, Printing Four Consecutive Red Candles
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Flagship digital currency has printed four consecutive hourly red candles today, plunging from the $37,000 level to below $35,000 briefly, losing 5.77 percent and $2,136 today.

By now, Bitcoin has made a slightly recovery to $35,376 on the Kraken exchange.

Related
Guggenheim CIO Warns Crypto Holders About Volatile Holiday Weekend

As reported by U.Today earlier, Glassnode shared a chart showing that Bitcoin funding rates had gone red, showing a bearish sentiment of investors who were preparing for a volatile weekend.

Also, Guggenheim’s CIO Scott Minerd warned that this holiday weekend is likely to be volatile for Bitcoin.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.