Bitcoin price suddenly drops, laying out the bait for a whale feeding frenzy

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City AM

By Darren Parkin The Bitcoin price fell around 3% in a few minutes on Wednesday to $29,010 and Ethereum fell 5% to $1,977. It seems the crypto market is back in volatility mode. The world’s largest cryptocurrency by market capitalisation has been on a tear since the beginning of the year, having gained more than 60% in value since January. What, then, is happening to cause Bitcoin to retreat? It’s likely to be down to two key reasons. First, normal market correction after the impressive rally as investors indulge in some profit-taking. And second, investors could be offloading as inflation rem…

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