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What's Behind Bitcoin's Dramatic Pullback to Lowest Level Since Oct. 13?

Bitcoin is bouncing back from its five-week lows Friday. Blockchain analytics platform CryptoQuant says the early drop was predominantly driven by traders taking short positions in the perpetual futures market. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.

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Bitcoin Looking to Bounce Back From Low of Sub-$56K

Bitcoin is recovering to above $58,000 at press time from the low of $55,666 reached during the early European trading hours, the lowest level since Oct. 13. "The Hash" team discusses whether this could signal a bear market or just a healthy price correction.

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Key Factors Impacting Bitcoin Market Movement This Week

“All About Bitcoin's” Week in Review panel discusses what to make of this past week's significant markets sell-offs, examining the potential impact of China's continued mining crackdown and India's efforts to ban crypto transactions. Plus, reactions to the iconic Staples Center being renamed as the Crypto.com Arena in one of the biggest naming deal in sports history.

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Bitcoin намагається відновити ціну після падіння до рівня нижче 56 тисяч доларів, спричинене деривативами

ONE аналітик сказав, що побоювання щодо надлишку поставок із поселення Маунт-Гокс необґрунтовані.

Chart showing bitcoin's recovery from five-week lows

Markets

Довгостроковий висхідний тренд Bitcoin незмінний; Підтримка близько $53K-$56K

Імпульс все ще позитивний на тижневій основі, що узгоджується з бичачим висхідним трендом.

Bitcoin weekly price chart shows long-term uptrend with positive momentum in first panel and RSI declining from overbought levels in lower panel.

Markets

Туреччина виступає за Bitcoin , оскільки Ердоган веде книгу автократа щодо інфляції

Розслаблена монетарна Політика багаторічного правителя слідує знайомій схемі – і це штовхає деяких турків до Bitcoin.

Turkish President Recep Tayyip Erdogan, who has held power for nearly twenty years. Erdogan has cut interest rates despite high inflation, in a short-term bid to prop up Turkey's economy (Antonio Masiello, Getty Images)

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Bitcoin Attempts Price Recovery After a Derivatives-Led Slide to Sub-$56K

Bitcoin is looking to regain its footing, having reached five-week lows early Friday in a move market participants said was driven by derivatives. Haohan Xu, CEO of crypto trading firm Apifiny, discusses his views on bitcoin's trajectory and how low it could go. Plus, whether the benefits of Taproot could already be priced into BTC.

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Paxful CEO on El Salvador's Bitcoin Rollout

On the ground in El Salvador at the 2021 Latin American Bitcoin and Blockchain Conference, CoinDesk's Elaine Ramirez talks to Ray Youssef, CEO of Paxful, a peer-to-peer crypto marketplace that has made strides onboarding crypto adopters in emerging markets. Youssef discusses the latest on El Salvador's bitcoin rollout and the country's wider state of crypto affairs.

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Bitcoin Appears Exhausted, Risks Double Top

LMAX Digital says bitcoin has been looking tired in recent sessions after failing to extend the record run. There is now a risk for a double top on the daily chart, which, if triggered, could expose the possibility for a more profound drop towards a measured move downside extension target in the $48,000 range. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.

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