Why is Bitcoin price volatile today?
Bitcoin price opens the week with whipsaw price action ahead of a busy macroeconomic data week, and investors hope that the] US Federal Reserve will cut rates.
On Aug. 12, Bitcoin (BTC) dropped to $57,653, bringing its 24-hour losses to 2%, as traders positioned themselves ahead of a busy week filled with macroeconomic data.
The bullish momentum that propelled BTC above $60,000 at the end of last week is in question as bears and bulls fight to control the price.
Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin dropped from a high of $60,000 on Aug. 12, falling as much as 4% to an intraday low of $55,681, before recovering to the current price of $58,668.
