Bitcoin bulls haven’t recovered from the weekend drop and if a second wave strikes, billions of dollars could be liquidated again.
Bitcoin dropped more than 40% in the last 20 days and currently trades below the $50,000 mark. The last time BTC was below 50K was in mid-October. Bitcoin is hovering near fragile support as there is not much trade volume in this area. Bitcoin dropped to $42,000 on Saturday liquidating more than $2.25 billion in 24 hours. There is a possibility of a second move lower towards support at $40,000 mark. Resistance for now is at $51,000.
