{"id":372243,"date":"2021-11-25T13:23:43","date_gmt":"2021-11-25T10:23:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-solidifies-support-at-58k-as-btc-price-volatility-hits-7-month-low\/"},"modified":"2021-11-25T13:23:43","modified_gmt":"2021-11-25T10:23:43","slug":"bitcoin-solidifies-support-at-58k-as-btc-price-volatility-hits-7-month-low","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-solidifies-support-at-58k-as-btc-price-volatility-hits-7-month-low\/","title":{"rendered":"# Bitcoin \u2018solidifies\u2019 support at $58K as BTC price volatility hits 7-month low"},"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-6a2fb0c318cd6\" 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-6a2fb0c318cd6\" 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-solidifies-support-at-58k-as-btc-price-volatility-hits-7-month-low\/#Limp_altcoins_led_by_Solana_support_retest\" >Limp altcoins led by Solana support retest<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin \u2018solidifies\u2019 support at $58K as BTC price volatility hits 7-month low <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) hit multi-day highs of $58,300 overnight into Nov. 25 with investors betting on the reduced likelihood of a further major price dip.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/20d189cb-1349-48db-9fb9-e5fcbb36c81c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\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>\u00a0showed BTC\/USD ranging above $57,000 Thursday, printing a higher low on the daily chart.<\/p>\n<p>This, trader and analyst Rekt Capital believes, shows support \u201csolidifying\u201d at current levels, with hope, therefore, remaining of a more convincing trend reversal.<\/p>\n<p>\u201cBitcoin has certainly solidified its support here, producing a long downside wick into the bottom of the black wedging structure and rebounding strongly,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1463613495363223566\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers. <\/p>\n<blockquote><p>\u201cAlso, today\u2019s candlestick is forming a Higher Low relative to yesterday\u2019s Daily candle.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/30efbaed-373e-4652-adce-3cef95cabeb0.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day annotated candle chart (Coinbase). Source: Rekt Capital\/Twitter<\/em><\/figcaption><\/figure>\n<p>The mood was shared by crypto trading firm QCP Capital, which, on Wednesday, summarized the likely short-term outcomes.<\/p>\n<p>\u201cSo far, the selling pressure has effectively c<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>ed every rally. The question is whether it will lead to a downside break,\u201d it wrote in a market update to Telegram channel subscribers.<\/p>\n<blockquote><p>\u201cWe are betting that the market will consolidate instead of breaking lower.\u201d<\/p><\/blockquote>\n<p>As Cointelegraph reported, mixed signals played out from exchanges over selling pressure this week, with large inflows and outflows marking a highly active market.<\/p>\n<p>Nonetheless, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.buybitcoinworldwide.com\/volatility-index\/\">volatility<\/a> remains at its lowest in over half a year, reinforcing relatively stable price conditions.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/ba067dc6-e0ab-4ad2-833f-063470f69fd7.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin volatility chart. Source: Buy Bitcoin Worldwide<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Limp_altcoins_led_by_Solana_support_retest\"><\/span>Limp altcoins led by Solana support retest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Out of the top 10 cryptocurrencies by market capitalization, Binance Coin (BNB) thus became the sole standout, up 8% week over week.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price metric demands \u2018strong reaction\u2019 as $56K BTC starts to look \u2018seriously cheap\u2019<\/em><\/strong><\/p>\n<p>Other tokens were flat or saw minor losses, led by Solana (SOL), which dove nearly 7% on the day to near $200.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/39179eee-dc36-4b84-8df8-ea292a8f71cf.png\"><figcaption style=\"text-align: center;\"><em>SOL\/USD 1-hour candle chart (FTX). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>For fellow trader and analyst Pentoshi, macro factors could yet cause a more definitive stalling of the crypto bull run.<\/p>\n<p>\u201cThe most hilarious ending to a crypto bull market would be double digit inflation and people not understanding why that can be bearish for risk on assets,\u201c he commented in a Twitter\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1463655977971077127\">thread<\/a> originally begun on Nov. 16. <\/p>\n<blockquote><p>\u201cThe very thing people cheering on at the expense of others Can be the very thing that ends this cycle.\u201d<\/p><\/blockquote>\n<p>On Thursday, he reiterated the potential for a deflationary spell to emerge in 2022.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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-solidifies-support-at-58k-as-btc-price-volatility-hits-7-month-low\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin \u2018solidifies\u2019 support at $58K as BTC price volatility hits 7-month low &#8221; Bitcoin (BTC) hit multi-day highs of $58,300 overnight into Nov. 25 with investors betting on the reduced likelihood of a further major price dip. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD ranging above&#8230;<\/p>\n","protected":false},"author":1,"featured_media":372244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvZGZkNDE5MjMtOTBkNy00NTAxLWFjYmYtOGExZTk4NmU5ZDY5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,73785],"class_list":["post-372243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/372243","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=372243"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/372243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/372244"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=372243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=372243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=372243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}