Bitcoin clings to $36K as data suggests BTC price sell-off came from short-term holders
Bitcoin (BTC) found a new home at $36,000 into May 7 as volatility finally cooled into the weekend.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
Terra down at least $250 million in crunch
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the $36,000 mark overnight after losing 12% in just 72 hours.
Still near its lowest levels since late February, the pair had nonetheless avoided a rematch of 2022 lows at the time of writing despite low-volume weekend market conditions.
In his latest Twitter update on May 6, popular trader Anbessa highlighted the planned support level to buy Bitcoin in what he described as a "fakeout" — a zone beginning at just under $33,000.
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