Bitcoin dips under $17K as 'craziest rumors' over Binance sink BTC price
Bitcoin traders stay wary over Binance "FUD" triggering overly bearish BTC price action. Bitcoin (BTC) fell below $17,000 on Dec. 16 as traders warned of overreaction to “FUD” involving exchange Binance and others. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance "FUD" fuels bearish BTC moves Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it put in multi-day lows of $16,928 on Bitstamp. The pair retraced its entire run to one-month highs courtesy of the latest macroeconomic data and policy update from the United States. Amid ongoing concerns over the solvency of largest global exchange Binance, market sentiment showed what traders argued was a clear case of cold feet. The evidence, they suggested, simply did not stack up in bears’ favor. “The craziest rumours and FUD going around on literally everybody in the crypto exchange business,” Michaël van de Poppe, founder and CEO of trading firm Eight, tweeted on the day. A fur...