Bitcoin price witnessed sudden drop and volume jumped by $60B

At press time, Bitcoin was trading at $81,970.00 with the market capitalization of $1.648T. Bitcoin price has dropped by 2.64% in the past 24 hours and the BTC dominance has also dropped by 0.18% to 60.60%. Its trading volume has increased by $60B to $379.345B amid this fall. Open interest has dropped by 8% which showcases that this fall could be due to longs exit. The technical analysis displays that BTC price has grabbed the liquidity over the previous swing high of $83,340 and resulted in a sharp fall. If Bitcoin price slips below the immediate support zone of $80,000, sellers may dominate further. Conversely, if the price bounces back and exceeds $83,340 level then aggressive buying can be observed in Bitcoin.