Bitcoin slips below $40K – Millions in longs get wiped out | Crypto Push

Bitcoin slips below $40K – Millions in longs get wiped out

Bloodbath in the market
The king coin tumbled to $39,536 at 7:45 pm UTC on the 22nd of January, AMBCrypto noticed using CoinMarketCap’s data. The price recovered to $40,063 at press time as some traders bought the dip.

Grayscale outflows increase selling pressure
The catalyst for the bloodbath continues to be fund flows from Grayscale Bitcoin Trust, formerly Grayscale Bitcoin Trust (GBTC).