3 reasons why Bitcoin price quickly recovered after dropping to $15.7K
Bitcoin price abruptly dropped to $15,670 before traders stepped in to defend the $16,000 level. The price of Bitcoin (BTC) dropped to as low as $15,670 on Binance on Nov. 15. The highly volatile drop came hours after BTC reached $16,355, demonstrating strong momentum. Three key factors likely caused the overnight drop in the price of Bitcoin. The three potential factors are a weekend shakeout, the daily moving average (MA) retest, and a retest of the parabola.BTC/USD daily chart . Source: TradingView.comWeekend shakeouts and lower support retests are healthyAs Cointelegraph reported,....
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Bitcoin recovered quickly from $44,800 to over $50,000 in under 22 hours and here are three key reasons why. The price of Bitcoin (BTC) quickly recovered from around $44,800 to over $50,000 within merely 22 hours. Behind the rapid recovery are three major factors, including low funding rates, Square's $170 million Bitcoin purchase, and the spot market stabilizing.Bitcoin futures funding rates substantially dropAcross major futures exchanges, including Binance, Bybit and Bitfinex, the funding rate of Bitcoin has dropped to 0.01%.The Bitcoin futures funding rate was consistently above 0.1%....
Only six months after the Bitcoin price last reached an all-time high of $266 in April, Bitcoin is shooting up yet again. The rise started almost immediately after the beginning of October, when the anonymous market Silk Road was shut down and its owner arrested; although the price did drop down from $127 to a low of $85 on Bitstamp, it recovered quickly, and soon started rising from $127 at an average rate at over three percent per day. After a brief crash and consolidation at $200, Bitcoin kept rising again, and soon finally hit its new all-time high. First of all, what is different....
HT’s price shows strength as price cracks 77% gain despite the market displaying uncertainty. HT bounces from the downtrend as the price breaks out of a descending triangle with strong buy volume. The price of HT shows bullish signs as the price trades above 50 and 200 Exponential Moving Averages (EMA) with good volume. The price movement of Huobi Token (HT) is a spectacle to behold after successfully breaking out of its downtrend that has seen the price of Huobi Token (HT) grounded against tether (USDT). Despite the current state of the crypto market facing a new drawback as....
Bitcoin price sentiment first turned fearful but soon switched to mildly bullish as price began to slowly rise, reclaiming the lost levels. February saw a noticeable shift between inflation and U.S. Federal Reserve news, followed by news of a conflict in Eastern Europe that completely overshadowed the earlier concerns of economic health. What’s transpiring in Ukraine is causing an immediate marketwide price drop. Bitcoin (BTC) had a notable decline of 11% over a 16-hour time period, while the majority of altcoins plummeted 20% or more.The initial expectation was for the war to have a....
Bitcoin could drop to as low as $27,000 in a bearish scenario, analysts say, which would bring panic to the altcoin market. Some analysts say that the price of Bitcoin (BTC) could drop to $27,000 in a bearish scenario if it falls through the $30,000 support area.The potential drop to $27,000 is conditional in that BTC would have to break down below $30,500, where it strongly bounced from on Jan. 11. Bitcoin whale clusters. Source: WhalemapWhich is the short-term Bitcoin bottom?In the foreseeable future, there are three key technical levels at play for Bitcoin: $34,500, $30,500, and....