{"id":356074,"date":"2021-10-21T18:09:49","date_gmt":"2021-10-21T15:09:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-sheds-6-in-battle-for-all-time-high-support-amid-falling-funding-rates\/"},"modified":"2021-10-21T18:09:49","modified_gmt":"2021-10-21T15:09:49","slug":"bitcoin-sheds-6-in-battle-for-all-time-high-support-amid-falling-funding-rates","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-sheds-6-in-battle-for-all-time-high-support-amid-falling-funding-rates\/","title":{"rendered":"# Bitcoin sheds 6% in battle for all-time high support amid falling funding rates"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f97cd34055\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f97cd34055\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-sheds-6-in-battle-for-all-time-high-support-amid-falling-funding-rates\/#Bitcoin_battles_for_new_support_at_old_peak\" >Bitcoin battles for new support at old peak<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-sheds-6-in-battle-for-all-time-high-support-amid-falling-funding-rates\/#Altcoins_stabilize_with_Ether_SOL_leading\" >Altcoins stabilize with Ether, SOL leading<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin sheds 6% in battle for all-time high support amid falling funding rates <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) briefly dipped below $63,000 on Oct. 21 as a standard correction cooled the market.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/4fd05042-f3fc-4f3f-ba12-c1dd000541c5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_battles_for_new_support_at_old_peak\"><\/span>Bitcoin battles for new support at old peak<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BITSTAMP\">TradingView<\/a>\u00a0followed BTC\/USD as it came off all-time highs above $67,000 to hit lows of $62,860 on Bitstamp.<\/p>\n<p>The roughly 6% drop from its peak came as little surprise to seasoned traders, despite Bitcoin so far failing to create solid support at the site of its previous all-time high of $64,900.<\/p>\n<p>\u201cBitcoin is still undergoing this retest attempt,\u201d popular trader Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1451174978217517066\">wrote<\/a> in his latest update, suggesting that the old high could still flip to support.<\/p>\n<p>Others took the chance to poke fun at the jittery mood on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a>, where various users were getting cold feet observing the retracement.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It&#8217;s just a joke.<\/p>\n<p>Most of you will get liquidated on a 5% drop anyway so it won&#8217;t matter what h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens after that.<\/p>\n<p>\u2014 NebraskanGooner (@nebraskangooner) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nebraskangooner\/status\/1451195912890380295?ref_src=twsrc%5Etfw\">October 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The return to near $60,000, now the top of a large buy wall, meanwhile served to flush out excessive optimism on derivatives markets.<\/p>\n<p>As Cointelegraph reported, funding rates had skyrocketed overnight but were slowly returning to more sustainable levels at the time of writing.<\/p>\n<p>Sentiment <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">showed<\/a> prevailing \u201cextreme greed\u201d among market participants, with the Crypto Fear &amp; Greed Index at 84\/100. Historical top scenarios have involved 95\/100 or higher.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/6a64c2c8-2e01-46af-9a65-3db441ece4be.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed Index as of Oct. 21. Source: Alternative<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Altcoins_stabilize_with_Ether_SOL_leading\"><\/span>Altcoins stabilize with Ether, SOL leading<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins presented a mixed but altogether more positive picture on the day.<\/p>\n<p><strong><em>Related:\u00a0Following Bitcoin\u2019s all-time high, DeFi TVL hits a record high above $233B<\/em><\/strong><\/p>\n<p>After losing out broadly against BTC, major altcoins were spared a comedown of their own, with Ether (ETH) still above $4,000. Solana\u2019s\u00a0SOL\u00a0has gained\u00a0over 25% in the past two days.<\/p>\n<p>Only Binance Coin (BNB) saw any noticeable downward movement, trading 4% lower over the past 24 hours.<\/p>\n<p>\u201cTotal altcoin market cap close to taking out its September high (and ATH). Did not do that in 2017 until mid-Nov,\u201d renowned analyst TechDev <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1450994195653709824\">noted<\/a> about the altcoin situation on Oct. 20. <\/p>\n<blockquote><p>\u201cCould signal some serious alt runs sooner than expected. Will keep close eye. Ethereum ain\u2019t playin around this cycle.\u201d<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1450994195653709824\/photo\/1\"><\/a><\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/327892a5-cf30-44fd-8481-b28eb7840f4c.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Kraken). Source: TradingView<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-sheds-6-in-battle-for-all-time-high-support-amid-falling-funding-rates\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin sheds 6% in battle for all-time high support amid falling funding rates &#8221; Bitcoin (BTC) briefly dipped below $63,000 on Oct. 21 as a standard correction cooled the market. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin battles for new support at old peak Data from Cointelegraph Markets Pro and TradingView\u00a0followed BTC\/USD as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":356075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvMDkzMDkwMjktMjRlYi00OGQzLTg4YzUtMzcwYjRkYmUxOWZjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785],"class_list":["post-356074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/356074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=356074"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/356074\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/356075"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=356074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=356074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=356074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}