Markets Weekly: Bitcoin Price Resilience Crumbles

Markets Weekly: Bitcoin Price Resilience Crumbles

Bitcoin price resilience finally crumbled this week after two weeks of strength following the so-called 'BearWhale' slaying. The price opened the week at $386, holding steady until mid-week, when it began a steep decline. It closed at $346, shedding $40 over the last seven days. The bitcoin price deterioration follows a strong rally from $295 on 6th October to a high of $405 about a week later. Trading held steady until this week's drop, even as the wider financial markets tumbled in mid-October. Swaps activity spikes. A look at the swaps activity on Bitfinex reveals more bearish....


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