The price of Bitcoin (BTC) rapidly fell after surpassing $11,500 on Binance between Oct. 14 and Oct. 15. Within two hours, it fell to $11,280, recording a 2.3% drop. After the fall, analysts are expecting another minor pullback in the near term.
Three factors likely caused the rejection to occur include a sell-off on BitMEX, a major resistance level and the stock market pullback.
Bitcoin dropped as soon as the Dow Jones slumped
On Oct. 14, the Dow Jones Industrial Average (DJIA) dropped by…