Bitcoin price was trading at $83,200 with an intraday loss of 3%. The Bitcoin price has dropped by 1.98% in just 2 hours after the London session opening. This sudden fall came because perpetuals started selling aggressively and turned the funding rate negative (from +0.0042% to -0.0013). Spot selling has also been detected, which boosted this selling pressure. Amid this fall, BTC slipped below the $83,000 level and has grabbed the liquidity beneath this psychological level. BTC could bounce back if spot buying happens on a higher scale.
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Bitcoin price slips 1.98% in 2 hours and funding rate has turned negative
