Bitcoin spawned flash volatility at the Feb. 20 Wall Street open as a classic “fakeout” burned traders.
Bitcoin sellers quickly snuff out $53,000 push
Data from Cointelegraph Markets Pro and TradingView followed BTC price action as it briefly pierced $53,000 before rejecting.
That rejection was strong, with BTC/USD giving back its entire day’s gains in under two hours, bottoming at $51,400.
At the time of writing, a modest recovery saw $51,700 as the focus.
Bitcoin futures open interest, a classic volatility catalyst, which hit its highest levels in 26 months at the start of the week, remained at over $22.5 billion, per data from CoinGlass.
