Bitcoin Heads for Worst Week in 8 Months as Traders Lament 'Pikachu Pattern'

Posted on by American Coins & Gold

Bitcoin Heads for Worst Week in 8 Months as Traders Lament 'Pikachu Pattern'
Bitcoin appeared to stabilize on Sunday after an unusually harsh sell-off, but the largest cryptocurrency was still on track for its worst weekly performance in eight months.As of press time, bitcoin (BTC) was changing hands just below $35,000, up 1.6% over the past 24 hours. More than $1.5 billion of bitcoin trading positions were liquidated over the past three days due to margin calls, according to the data site Coinglass.The bitcoin price is down 19% in the past seven days – the cryptocurrency’s worst weekly performance since May 2021, when fears of China’s renewed crackdown on cryptocurrency trading and mining…