{"id":449062,"date":"2022-05-18T20:59:32","date_gmt":"2022-05-18T17:59:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-drops-under-29k-as-walmart-target-stock-lose-most-since-1987\/"},"modified":"2022-05-18T20:59:32","modified_gmt":"2022-05-18T17:59:32","slug":"bitcoin-price-drops-under-29k-as-walmart-target-stock-lose-most-since-1987","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-drops-under-29k-as-walmart-target-stock-lose-most-since-1987\/","title":{"rendered":"# Bitcoin price drops under $29K as Walmart, Target stock lose most since 1987"},"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-6a41b737a347b\" 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-6a41b737a347b\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-drops-under-29k-as-walmart-target-stock-lose-most-since-1987\/#%E2%80%9D_Bitcoin_price_drops_under_29K_as_Walmart_Target_stock_lose_most_since_1987_%E2%80%9C\" >&#8221; Bitcoin price drops under $29K as Walmart, Target stock lose most since 1987 &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-drops-under-29k-as-walmart-target-stock-lose-most-since-1987\/#BTC_price_nears_%E2%80%9Cinteresting%E2%80%9D_rematch_with_lows\" >BTC price nears &#8220;interesting&#8221; rematch with lows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-drops-under-29k-as-walmart-target-stock-lose-most-since-1987\/#Altcoins_risk_90_%E2%80%9Cstandard_bear_market_correction%E2%80%9D\" >Altcoins risk 90% &#8220;standard bear market correction&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_drops_under_29K_as_Walmart_Target_stock_lose_most_since_1987_%E2%80%9C\"><\/span>&#8221; Bitcoin price drops under $29K as Walmart, Target stock lose most since 1987 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) headed toward an &#8220;interesting&#8221; liquidity area on May 18 as United States stock markets opened with a bearish bang.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/0ee393e9-9287-4caf-85ca-eb707a1c7b08.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=\"BTC_price_nears_%E2%80%9Cinteresting%E2%80%9D_rematch_with_lows\"><\/span>BTC price nears &#8220;interesting&#8221; rematch with lows<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=BINANCE\">TradingView<\/a>\u00a0followed BTC\/USD as it broke through the $29,000 support after the Wall Street open.<\/p>\n<p>U.S. markets saw a swift reversal of prior gains on the day, with the S&amp;P 500 down 2% and the Nasdaq 100 down 2.3% within the first hour of trading.<\/p>\n<p>The big surprise, however, came from grocery giants Walmart and Target, both of which saw the biggest intraday declines since the weeks prior to the 1987 &#8220;Black Monday&#8221; market crash.<\/p>\n<p>At the time of writing, WMT was down over 15% in five trading days, while TGT was nearing 25%. Both had come after reported of deteriorating earnings amid a squeeze on consumer spending from inflation.<\/p>\n<p>&#8220;Bear market rallies can last weeks or just a few days. The combo Walmart\/Target bombs indicate the U.S. consumer might not be as healthy as thought. The 3-day rally could be over,&#8221; Fred Hickey, editor of\u00a0The High-Tech Strategist, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/htsfhickey\/status\/1526934332090245121\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers on the day.<\/p>\n<p>As standard, BTC declined with the indices to threaten a break below $29,000 toward an area of liquidity which represented the daily closes from last week&#8217;s drop which had seen spikes below $24,000.<\/p>\n<p>&#8220;Looks like a clean breakdown to me. Price action has been choppy but we should at least sweep the lows,&#8221; popular trader and analyst Nebraskan Gooner tweeted in his latest update. <\/p>\n<blockquote><p>&#8220;Lows break and we probably see $22K. Lows hold and we can break back above $30K.&#8221;<\/p><\/blockquote>\n<p>Cointelegraph contributor Micha\u00ebl van de Poppe agreed, descrbing the area at around $28,400 as &#8220;interesting.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is making that dropdown and the low has been swept. <\/p>\n<p>An interesting area for me, the next one is around $28.4K. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FnEqJ6mz73\">pic.twitter.com\/FnEqJ6mz73<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1526919492646883328?ref_src=twsrc%5Etfw\">May 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Fellow longstanding social media trading presence Josh Rager hoped for a bounce at the key level to take Bitcoin higher once more.<\/p>\n<p>&#8220;Many times these compressions break one way for a fakeout and then reverse,&#8221; he tweeted regarding declining volatility potentially now resulting in a price move. <\/p>\n<blockquote><p>&#8220;Would love to see $BTC break down, get shorts off sides, and move up. Not certain this 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 at all but would be a great set up.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Rager\/status\/1526744056176513024\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>A subsequent post <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Rager\/status\/1526908708323721217\">confirmed<\/a> that BTC\/USD was moving according to plan.<\/p>\n<p><strong><em>Related:\u00a0Aave price risks a 25% plunge as a classic bearish reversal pattern emerges<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Altcoins_risk_90_%E2%80%9Cstandard_bear_market_correction%E2%80%9D\"><\/span>Altcoins risk 90% &#8220;standard bear market correction&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On altcoins, losses began to mount faster as Bitcoin abandoned any short-term bullish signals.<\/p>\n<p>Out of the top ten cryptocurrencies by market cap, Cardano (ADA) and Solana (SOL) were the worst performers, with daily losses near 8%.<\/p>\n<p>Ethereum (ETH) lost $2,000 support and headed towards its lowest levels since the May 12 cross-crypto capitulation.<\/p>\n<p>&#8220;Altcoins have retraced a lot. But previous bear markets suggest they could go lower,&#8221; trader and analyst Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1526919295464312832\/photo\/1\">warned<\/a>\u00a0on the day. <\/p>\n<blockquote><p>&#8220;If BTC loses its Macro Range Low, that would confirm more downside in the Crypto market. Which could enable Altcoins to follow their standard Bear Market correction of over -90%.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/a1b52b29-550e-443c-ba3d-efeef6bc7e4c.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/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-price-drops-under-29k-as-walmart-target-stock-lose-most-since-1987\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price drops under $29K as Walmart, Target stock lose most since 1987 &#8220; Bitcoin (BTC) headed toward an &#8220;interesting&#8221; liquidity area on May 18 as United States stock markets opened with a bearish bang. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price nears &#8220;interesting&#8221; rematch with lows Data from Cointelegraph Markets Pro&#8230;<\/p>\n","protected":false},"author":1,"featured_media":449063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZTY3MGE5OWQtYjQ0Ny00ZDAxLWFmMjEtZGExNGZhMDcwODNlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,74863,82402,74891,75150,73785,68637],"class_list":["post-449062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-ether-price","tag-ethereum","tag-market-update","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449062","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=449062"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/449063"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=449062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=449062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=449062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}