Bitcoin Records Nearly $10K Daily Candle in Flash Dip, What Does It Mean?

• Kyle du Plessis observed that Bitcoin fell by nearly $10,000 in one day during a flash to the downside
• Plessis noted that the price drop led to mass liquidation in the crypto market.
• According to the analyst, the dip could represent buying opportunities for most altcoins.

Kyle du Plessis, a renowned crypto market analyst, has highlighted that Bitcoin fell by nearly $10,000 in one day during a flash to the downside. Plessis noted that the price drop led to mass liquidation, even though most cryptocurrencies are making impressive recoveries. 

In a recently uploaded video, the analyst highlighted around $1 billion in liquidations on the long side, marking the largest liquidation cascade in the last six months. Plessis noted that funding rates increased massively, while most altcoins continue to exist in the discount levels from the daily charts’ perspective.

According to Plessis, the price dip could represent a buying opportunity for most altcoins, especially with an altcoin season in view. He showed that many altcoins are recovering impressively in the lower time frames.

Crucially, Ple…

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