Imploding Trump Pelosi COVID-19 deal leads to 3% Bitcoin price drop

The price of Bitcoin (BTC) dropped 3% in less than three hours as the U.S. stock market plummeted. Following the pullback, most traders are neutral or slightly bearish on the short-term trend of BTC.

Traders and on-chain analysts are now pinpointing $12,500 and $11,973 as the two levels to watch for the continuation of the Bitcoin rally.

BTC/USD. Source: TradingView.com

Why $12.5K and $11.9K are crucial for the current Bitcoin rally

The Bitcoin price dropped sharply on the day due to the…


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