Bitcoin’s 5% Whiplash Was No Accident — Charts Reveal The Full Story
Bitcoin's sharp 5% price swing was structurally driven by weak volume and key on-chain supply/demand zones, not news.Summary
Bitcoin experienced a violent 5% whiplash on December 17, surging to $90,500 before rapidly dropping to $85,200. This volatility was structural, not news-driven. Analysis of the On-Balance Volume (OBV) showed bearish divergence before the move, indicating volume was leaving the market even as price held steady, making the rally fragile.
On-chain cost basis heatmaps pinpointed the exact turning points: a dense supply cluster between $90,168 and $90,591 acted as a ceiling, causing the rejection. Conversely, strong support was found between $84,845 and $85,243, where buyers aggressively defended the price, preventing a deeper collapse.
The article concludes that as long as these structures persist, volatility remains likely. For upside continuation, Bitcoin needs a clean daily close above $90,500, followed by clearing the $92,200-$92,300 cluster. Maintaining the $85,000 support is crucial to avoid further downside exposure.
(Source：BeInCrypto)