Yahoo Finance 
Bitcoin Price Dusts Off Sunday’s Flash Crash to Recover Near $9,500
Overnight, the bitcoin price flash crashed to $9,100 across major crypto exchanges in the likes of Bitstamp and Coinbase, dropping by nearly seven percent against the U.S. dollar.
The bitcoin price flash crashed to $9,100, recovered beyond $9,500 within minutes (source: coinmarketcap.com)
Within minutes, however, the bitcoin price surged from $9,100 to over $9,500, rebounding beyond $9,700 at the day’s peak.
Flash crash and quick recovery, what’s next for the bitcoin price?
Throughout the past week, various reports suggested that the investigation into BitMEX by the Commodities and Futures Trading Commission (CFTC) and the pending case of Bitfinex have been factors behind the volatility in the crypto market.
Some technical analysts have stated that the volatility in the crypto market has been caused by the indecisiveness of traders battling for control over the market, which bears have had a strong hand in mid-July.
Josh Rager, a cryptocurrency technical analyst, said that based on the short term movement of bitcoin, if the asset falls below a key support level at $9,420, it may signal further downtrend.
