3 reasons why Bitcoin just dropped after failing to break $19.5K again

The Bitcoin price (BTC) surged above $19,500 briefly on Dec. 15, reaching as high as $19,570 on Binance. However, BTC then dropped to $19,050 within three hours, recording a sudden 2.5% pullback.

Bitcoin spiked to around $19,600 from the momentum of its relief rally and negative futures market funding rates. But it rejected the same level it broke down from since November due to selling pressure from whales.

Bitcoin 1-hour price chart (Coinbase). Source: TradingView.com

A relief rally for…

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