Revolut App Sees Bitcoin Price Plunge Due to Glitch
- Price Anomaly: Users of the Revolut app witnessed Bitcoin's price plummet to $39,900, with some notifications suggesting a drop to $0.02, marking a record low over the past 52 weeks, highlighting the severity of the platform's data issues.
- Technical Glitch Cause: The price swings were isolated to the Revolut platform, with no similar volatility observed on major exchanges or data sources like CoinMarketCap, indicating a likely data transmission error rather than broader market turbulence.
- Expert Insights: Algorithmic trading expert Ranveer Arora noted that the price drop could stem from a data transmission error or liquidity gap, emphasizing the fragility of price perception in environments reliant on inconsistent data sources, which can distort market sentiment.
- Revolut's Response: Revolut quickly corrected the erroneous price data and informed users that engineers were addressing functionality disruptions; although the price fluctuations unsettled some users, the lack of similar effects on other platforms limited the overall impact.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 67093.517 | 71015.518 | 75005.997 | 78927.998 | 82918.477 | 86840.478 | 90830.957 |
| Fibonacci | 71015.518 | 74038.086 | 75905.431 | 78927.998 | 81950.566 | 83817.911 | 86840.478 |
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