$BTC Price Strength Returns Quickly After#BitcoinSell-Off Event Like Few in History.

Bitcoin BTCCR$615,734 returned toward $100,000 after Wall Street opened on Dec. 6 as markets recovered from a fresh flash crash.

Market volatility has increased after a cool-off period that followed a $10,000 drop in a single hourly candle.

“Despite the tremendous volatility…Bitcoin is adhering to classic technical analysis principles, with a daily close followed by a retest of the top of the market’s main triangle structure,” popular trader and analyst Rekt Capital summarized in his latest analysis on X.

“And the post-breakout retest has been successful so far.”

An accompanying chart revealed a so-called “Darth Maul” candle on daily intervals, with traders in both long and short positions being liquidated by around $900 million over the course of 24 hours.

“Yesterday, around $4 billion in open interest was wiped out of the market, in BTC alone. $ETH saw around $1.5 billion wiped out, but ended up holding up better in the end,” he noted.

"These types of sell-offs are quite normal in a bull market and will happen more frequently. It's the only way we can keep moving forward." Caleb Franzen, creator of financial research resource Cubic Analytics, was no less optimistic. #Bitcoincould see its highest daily close ever today," he told followers on X. "That doesn't happen during a #bearmarket." BTC's price rally was aided by cathartic macroeconomic data from the#UnitedStateson the day. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Source: Cointelegraph