Share this article
Bitcoin Rally Falters as Price Drops Below $16K
The cryptocurrency dropped as low as $15,750, having hit highs over $16,300 in the Asian trading hours.
Updated Sep 14, 2021, 10:30 a.m. Published Nov 14, 2020, 10:24 a.m.
Bitcoin's price quickly dropped below $16,000 Saturday morning, putting the rapid rally seen in recent weeks on pause.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Around 10:00 UTC, the cryptocurrency dropped as low as $15,750, having hit highs over $16,300 in the Asian trading hours.
- As reported earlier this week, analysts had been expecting bitcoin to move into consolidation for a time, and possible to see a pullback.
- That's because the rally from $9,800 to over $16,000 over the past two months looked overstretched on the technical charts.
- They anticipated, however, that the run toward bitcoin's record high of around $20,000 would pick up the pace again, likely in December.
- The bitcoin options market is also extremely bullish longer term, as data showed Thursday that net demand for call options (bullish bets) was outstripping net demand for puts (bearish bets) by the highest level on record.
- At press time, bitcoin prices had risen slightly to $15,860, down 2.87% over 24 hours.
Also read: $300M in Bitcoin Flow to Binance From Huobi as China Gets Tougher on Exchanges
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Every Major Bitcoin Conference Has Seen Prices Fall in 2025, Will Abu Dhabi Be Different?
Bitcoin enters the Abu Dhabi conference near $92K after a year of sell-the-news dips at major events, raising questions about another potential pullback.
What to know:
- Bitcoin enters the MENA 2025 conference around $92K, with traders watching for another event-linked correction.
- All four major bitcoin conferences this year — Las Vegas, Prague, Hong Kong and Amsterdam — coincided with short-term price drops.
- The bitcoin conference in Abu Dhabi arrives this week with bitcoin over $92,000, raising the possibility of another sell the news move.
Top Stories
