{"id":450598,"date":"2022-05-21T14:08:50","date_gmt":"2022-05-21T11:08:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-ends-week-on-the-edge-as-sp-500-officially-enters-bear-market\/"},"modified":"2022-05-21T14:08:50","modified_gmt":"2022-05-21T11:08:50","slug":"bitcoin-ends-week-on-the-edge-as-sp-500-officially-enters-bear-market","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-ends-week-on-the-edge-as-sp-500-officially-enters-bear-market\/","title":{"rendered":"# Bitcoin ends week &#8216;on the edge&#8217; as S&#038;P 500 officially enters bear market"},"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-6a40e1118cfa4\" 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-6a40e1118cfa4\" 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-ends-week-on-the-edge-as-sp-500-officially-enters-bear-market\/#%E2%80%9D_Bitcoin_ends_week_%E2%80%98on_the_edge_as_S_P_500_officially_enters_bear_market_%E2%80%9C\" >&#8221; Bitcoin ends week &#8216;on the edge&#8217; as S&#038;P 500 officially enters bear market &#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-ends-week-on-the-edge-as-sp-500-officially-enters-bear-market\/#BTC_price_reflects_drab_stocks_performance\" >BTC price reflects drab stocks performance<\/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-ends-week-on-the-edge-as-sp-500-officially-enters-bear-market\/#May_competes_with_2021_for_worst_on_record\" >May competes with 2021 for worst on record<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_ends_week_%E2%80%98on_the_edge_as_S_P_500_officially_enters_bear_market_%E2%80%9C\"><\/span>&#8221; Bitcoin ends week &#8216;on the edge&#8217; as S&#038;P 500 officially enters bear market &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) struggled to recover its latest losses on May 21 after Wall Street trading provided zero respite.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/410db8a1-381c-4c47-991e-1d9551076481.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_reflects_drab_stocks_performance\"><\/span>BTC price reflects drab stocks performance<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>\u00a0showed BTC\/USD trading at dipping below $28,700 into the weekend, subsequently adding around $500.<\/p>\n<p>Down 4.7% from the previous day&#8217;s $30,700 highs, the pair looked firmly rangebound at the time of writing after United States stocks indices saw a volatile final trading day of the week.<\/p>\n<p>The S&amp;P 500, managed to reverse after initially falling at the open, nonetheless confirmed bear market tendencies, trading at 20% below its highs from last year.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The S&amp;P 500 has officially entered a bear market <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/N1lrcBdziT\">pic.twitter.com\/N1lrcBdziT<\/a><\/p>\n<p>\u2014 Fintwit (@fintwit_<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/fintwit_news\/status\/1527685580699717632?ref_src=twsrc%5Etfw\">May 20, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Another wacky day in the stock market. Dow Jones -500 early in the day, then recovers it all and closes +8,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account Blockchain Backers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BCBacker\/status\/1527758138740559872\">commented<\/a> about broader U.S. market performance. <\/p>\n<blockquote><p>&#8220;Bitcoin still just teetering on the edge.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BCBacker\/status\/1527758138740559872\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>As Cointelegraph reported, various sources had called for Bitcoin to fall once again in a manner similar to last week&#8217;s capitulation event.<\/p>\n<p>Continuing the conservative macro outlook, fellow Twitter commentator PlanC argued that external shifts could still bring Bitcoin down significantly from current levels.<\/p>\n<p>&#8220;If the Crypto market was in a bubble I would say 25k to 27.5k is the Bitcoin bottom, but there is a decent probability that macro factors drag us down to 22-24k. Significant black swan, 15-20k becomes a possibility,&#8221; part of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheRealPlanC\/status\/1527877202007580672\">tweet<\/a> on the day read.<\/p>\n<p>Beyond stocks, the U.S. dollar index (DXY) was consolidating after a strong retracement from twenty-year highs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/ecab81d3-c87e-4335-a099-afef4da962eb.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"May_competes_with_2021_for_worst_on_record\"><\/span>May competes with 2021 for worst on record<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With ten days left until the end of the month, BTC\/USD risked May 2022 being the worst in terms of returns in its history.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin must defend these price levels to avoid &#8216;much deeper&#8217; fall: Analysis<\/em><\/strong><\/p>\n<p>Data from on-chain analytics resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/today\">Coinglass<\/a> showed month-to-date returns currently totaling -22% for Bitcoin, the largest retreat of any year except 2021&#8217;s -35%.<\/p>\n<p>2022, the collective figures confirmed, was also the worst performing first five months of the year for Bitcoin since 2018.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/b8daaf1b-f026-4ef1-a104-e2950f3f5104.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD monthly returns chart (screenshot). Source: Coinglass<\/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 News 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-ends-week-on-the-edge-as-s-p-500-officially-enters-bear-market\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin ends week &#8216;on the edge&#8217; as S&#038;P 500 officially enters bear market &#8220; Bitcoin (BTC) struggled to recover its latest losses on May 21 after Wall Street trading provided zero respite. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price reflects drab stocks performance Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD trading&#8230;<\/p>\n","protected":false},"author":1,"featured_media":450599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvYTIwNWQ3YmYtZjA0Yi00ZTM1LWE4ZWItZDI0ZTUyMjg1MTcxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,70359],"class_list":["post-450598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/450598","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=450598"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/450598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/450599"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=450598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=450598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=450598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}