Bitcoin sees 30% retracement as selling pressure increases -- Bitfinex

Bitcoin (BTC) has undergone its second-largest correction of this bull run, according to analysts at crypto exchange Bitfinex. The correction, from the coin’s all-time high of $109,590 set on Jan. 20 to a low of $77,041 during the week of March 9-15, represents a 30% retracement triggered by selling pressure from short-term holders. In its report, Bitfinex defines short-term holders as those who have bought within the last seven to 30 days. According to the exchange, they have suffered net unr...