Bitcoin Price Drops 4% After Latest Rejection at $12K Resistance

[Galaxy]

Bitcoin is facing selling pressure at press time, having failed to move above a long-held resistance level on Tuesday.

The leading cryptocurrency is currently trading near $11,390, representing a roughly 4% decline on the day, according to CoinDesk's Bitcoin Price Index.
Prices dropped by nearly $400 in just minutes, but have bounced slightly at the time of writing.
The sell-off has coincided with a report that South Korean authorities have seized Bithumb, one of the country's biggest cryptocurrency exchanges by trading volume.
Info link: https://www.coindesk.com/bitcoin-price-drops-rejection-12k-resistance