Bitcoin Suddenly Drops by $500 After Passing $12K [Updated]

Bitcoin Suddenly Drops by $500 After Passing $12K [Updated]

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Update (12:12 UTC): Bitcoin fell by nearly $500 to $11,546 in the 10 minutes to 10:30 UTC, after failing to absorb selling pressure above the $12,000 mark during the early European trading hours. It’s the second rejection above $12,000 in eight days, and comes as the U.S. dollar shows signs of bottoming out.

Bitcoin is on the hunt for a new yearly high, having crossed above $12,000 early on Monday.

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