{"id":378581,"date":"2021-12-09T13:07:46","date_gmt":"2021-12-09T10:07:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-dips-below-50k-as-evergrande-defaults-on-us-dollar-debt\/"},"modified":"2021-12-09T13:07:46","modified_gmt":"2021-12-09T10:07:46","slug":"bitcoin-dips-below-50k-as-evergrande-defaults-on-us-dollar-debt","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-below-50k-as-evergrande-defaults-on-us-dollar-debt\/","title":{"rendered":"# Bitcoin dips below $50K as Evergrande defaults on US dollar debt"},"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-6a368b220fe49\" 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-6a368b220fe49\" 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-dips-below-50k-as-evergrande-defaults-on-us-dollar-debt\/#Bitcoin_%E2%80%9Cappears_on_track%E2%80%9D\" >Bitcoin &#8220;appears on track&#8221;<\/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-dips-below-50k-as-evergrande-defaults-on-us-dollar-debt\/#Ethereum_takes_aim_at_BTC_pair\" >Ethereum takes aim at BTC pair<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin dips below $50K as Evergrande defaults on US dollar debt <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) kept $50,000 as a focus on Dec. 9 as consolidation on BTC\/USD continued to avoid last week&#8217;s lows.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/12b25d6b-a61b-41ff-808d-4205f347b9d3.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_%E2%80%9Cappears_on_track%E2%80%9D\"><\/span>Bitcoin &#8220;appears on track&#8221;<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>\u00a0showed the pair acting within a small range around the $50,000 mark overnight, this yet to become firm support.&#8221;<\/p>\n<blockquote><p>A crucial area to hold is that region we&#8217;ve touched already at $42K. The close was above $46-47K and I&#8217;d prefer not to lose that at all.&#8221;<\/p><\/blockquote>\n<p>&#8220;Chop, chop, chop it is for Bitcoin,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1468868616468762625\">wrote<\/a> on the day. <\/p>\n<p>Amid broadly calmer conditions despite macro markets dealing with an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-09\/evergrande-defaults-for-first-time-as-china-debt-strains-spread\">unprecedented debt default<\/a> from China&#8217;s Evergrande property giant, analysts thus focused increasingly on longer-term phenomena to gauge Bitcoin price action&#8217;s overall health.<\/p>\n<p>&#8220;Bitcoin <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>ears on track,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account TechDev summarized Wednesday in an optimistic discussion comparing this year to previous post-halving years 2013 and 2017.<\/p>\n<p>A frequent topic for TechDev, the relationship, conditioned by halving cycles, has survived despite the most recent drawdown from all-time highs totaling 39%.<\/p>\n<p>He further agreed with separate analysis from popular trader and analyst Rekt Capital, who late last week highlighted key Fibonacci levels for Bitcoin to hold and reclaim.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Very nice work. Did not see this. Agree with the positioning and outlook. Also see parallel to 2013 macro PA.<\/p>\n<p>\u2014 TechDev (@TechDev_52) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1468631996792553474?ref_src=twsrc%5Etfw\">December 8, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Despite the similarities between cycles, however, commentators have conceded that this time, Bitcoin will likely take longer to reach its cycle peak, leaving December without a classic blow-off top.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_takes_aim_at_BTC_pair\"><\/span>Ethereum takes aim at BTC pair<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins were similarly calm overnight, with the only standout in the top ten cryptocurrencies by market cap being Terra&#8217;s LUNA token, up 11%.<\/p>\n<p><strong><em>Related:\u00a0This Bitcoin price metric just hit \u2018oversold\u2019 for only the 7th time in 8 years<\/em><\/strong><\/p>\n<p>Ether (ETH) was down by 1.2% at the time of writing to just above $4,300 while maintaining almost four-year highs against BTC.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/0d27a0ce-6b48-4668-bdc1-81d85b66944e.png\"><figcaption style=\"text-align: center;\"><em>ETH\/BTC 1-month candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>For Rekt Capital, $4,384 was the support level to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1468590544985239556\/\">reclaim<\/a> in order to fuel a retest of ground nearer all-time highs.<\/p>\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-dips-below-50k-as-evergrande-defaults-on-us-dollar-debt\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin dips below $50K as Evergrande defaults on US dollar debt &#8221; Bitcoin (BTC) kept $50,000 as a focus on Dec. 9 as consolidation on BTC\/USD continued to avoid last week&#8217;s lows. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin &#8220;appears on track&#8221; Data from Cointelegraph Markets Pro and TradingView\u00a0showed the pair acting within&#8230;<\/p>\n","protected":false},"author":1,"featured_media":378582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvYTJiOGFjZTgtMWMyMS00MTliLTgxMDctYmYwMmM0ZTc2M2E1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785],"class_list":["post-378581","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\/378581","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=378581"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/378581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/378582"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=378581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=378581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=378581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}