Bitcoin is trailing as it starts a new week thanks to fresh worries over a blanket ban by India—is that it for the bull run? After hitting new all-time highs of almost $62,000 over the weekend, Indian lawmakers have burst Bitcoin’s bubble, sparking the biggest daily losses in history.
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Markets Report: Bitcoin plummets, testing $30,000 support as 3-day losses pass 25%
A mixture of relief and resignation among traders comes as Bitcoin draws a line under its parabolic advance
Unlike previous weekends, this one was all about losses, not gains for Bitcoin. After hitting all-time highs of exactly $42,000 on Bitstamp, a reversal came but was initially slow to kick in. It was not until Sunday that the downwards pace began to accelerate, with BTC/USD dropping by almost $6,000 in 12 hours. A brief bounce failed to stem the retreat, and the pair continued falling into Monday, bottoming out at $30,700.
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Markets Report: Bitcoin reclaims $18,000 with markets in new “waiting game”
$17,700 provides repeated support for Bitcoin, but signs of a bullish resurgence remain off the table in daily trading
Bitcoin traded back above $18,000 on Dec. 10 after a volatile day’s trading saw bulls avoid a trip to lower levels. Previously, a period of consolidation had given way to freefall for BTC/USD, the pair hitting lows of $17,650 before a swift rebound. Thereafter, the situation remained tenuous, Bitcoin testing $18,000 after hitting highs of $18,640 overnight.
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Markets Report: Bitcoin dives below $17,700 as markets explore giant futures gap
BTC/USD managed to fill roughly half of the futures gap, but exchange orderbook data warns of potential further drops to come
Bitcoin flipped bearish on Dec. 9 as all-time highs slipped from view and $17,000 prices returned. Data from price trackers including CoinMarketCap and TradingView followed BTC/USD as it lost $19,000 and then $18,000 support over the past 24 hours.
