{"id":530351,"date":"2022-12-22T18:28:36","date_gmt":"2022-12-22T15:28:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-dips-below-16-7k-as-us-gdp-meets-fresh-btc-price-death-cross\/"},"modified":"2022-12-22T18:28:36","modified_gmt":"2022-12-22T15:28:36","slug":"bitcoin-dips-below-16-7k-as-us-gdp-meets-fresh-btc-price-death-cross","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-below-16-7k-as-us-gdp-meets-fresh-btc-price-death-cross\/","title":{"rendered":"# Bitcoin dips below $16.7K as US GDP meets fresh BTC price &#8216;death cross&#8217;"},"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-6a407f653203b\" 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-6a407f653203b\" 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-dips-below-16-7k-as-us-gdp-meets-fresh-btc-price-death-cross\/#%E2%80%9D_Bitcoin_dips_below_167K_as_US_GDP_meets_fresh_BTC_price_%E2%80%98death_cross_%E2%80%9C\" >&#8221; Bitcoin dips below $16.7K as US GDP meets fresh BTC price &#8216;death cross&#8217; &#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-dips-below-16-7k-as-us-gdp-meets-fresh-btc-price-death-cross\/#Bitcoin_risks_new_and_unseen_%E2%80%9Cdeath_cross\" >Bitcoin risks new and unseen &#8220;death cross<\/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-dips-below-16-7k-as-us-gdp-meets-fresh-btc-price-death-cross\/#Dollar_seeks_comeback_after_GDP_print\" >Dollar seeks comeback after GDP print<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_dips_below_167K_as_US_GDP_meets_fresh_BTC_price_%E2%80%98death_cross_%E2%80%9C\"><\/span>&#8221; Bitcoin dips below $16.7K as US GDP meets fresh BTC price &#8216;death cross&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-30a6cf80>Bitcoin (BTC) fell at the Dec. 22 Wall Street open as United States equities reversed previous gains.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/6a367f1a-0b0f-4384-acf0-b52b4c2b85a1.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_risks_new_and_unseen_%E2%80%9Cdeath_cross\"><\/span>Bitcoin risks new and unseen &#8220;death cross<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> showed BTC\/USD dipping to intraday lows of $16,650 on Bitstamp. <\/p>\n<p>The pair remained a conspicuous stocks copycat as the S&amp;P 500 opened down 1.6% and the Nasdaq Composite Index traded down 1.8% at the time of writing.<\/p>\n<p>The weakness <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>eared to be a reaction to stronger-than-expected U.S. gross domestic product (GDP) growth in Q3, data for which was released prior to the open. <\/p>\n<p>Despite notionally a sign of recovery, concerns focused on the Federal Reserve continuing its restrictive economic policy on the assumption that the economy would be able to withstand the measures.<\/p>\n<p>This would notionally come in the form of longer-lasting interest rate hikes, with analysis already arguing that a \u201cpivot\u201d in policy was unlikely until 2024 at the earliest.<\/p>\n<p>As such, risk assets saw no relief from the GDP print, further disappointing traders hoping for a Santa rally.<\/p>\n<p>\u201cClear bearish retest. Downtrend intact,\u201d trader and analyst Il Capo of Crypto <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1605913807032721409\/photo\/1\">commented<\/a> on the daily S&amp;P 500 chart.<\/p>\n<p>Il Capo of Crypto warned earlier this week that markets as a whole were \u201cnot prepared\u201d for what would be fresh upcoming losses.<\/p>\n<p>On Bitcoin, the mood among some pundits was likewise firmly bearish.<\/p>\n<p>Bleeding Crypto <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Bleeding_Crypto\/status\/1605781389206425602\">highlighted<\/a> a never-before-seen \u201cdeath cross\u201d involving the 50-day and 200-day exponential moving averages (EMA) now due.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/387a3594-2eff-4b36-88e2-db522d17c1b5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Bleeding Crypto\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Daan Crypto Trades meanwhile drew attention to the yearly close, this likely to become Bitcoin\u2019s third negative year ever.<\/p>\n<p>\u201cThe percentage loss this year is sitting right in between the other two negative years, being 2014 and 2018,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DaanCrypto\/status\/1605686349444440066\">noted<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/ba3c4d5d-326b-427c-9dc7-2259fe92fbd5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source:\u00a0Daan Crypto Trades\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Elsewhere, analyst Toni Ghinea had little optimism in store for Bitcoin bulls, arguing that the macro bottom would not appear until Q1 2023.<\/p>\n<p>\u201cCapitulation to 11-14k. Bottom in Q1 2023. Expecting the final move down soon,\u201d a tweet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ToniGhinea\/status\/1605862749438849024\">read<\/a> on the day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/4950deee-a2f0-4174-9195-891ed7b92b4e.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Toni Ghinea\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Dollar_seeks_comeback_after_GDP_print\"><\/span>Dollar seeks comeback after GDP print<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The main beneficiary of the GDP print, meanwhile, was the U.S. dollar, which on the day saw confident rebound in strength.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin low volume sparks BTC price warning as metric hits \u2018value zone\u2019<\/em><\/strong><\/p>\n<p>The U.S. dollar index (DXY) circled 104.5 at the time of writing, up from lows of 103.75 from before the open.<\/p>\n<p>The greenback thus went some way to recovering losses engendered by a surprise intervention by the Bank of Japan earlier in the week. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/fb3a2958-d4bc-47d8-b9f6-b33f62045268.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<\/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. 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BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin risks new and unseen &#8220;death cross Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD&#8230;<\/p>\n","protected":false},"author":1,"featured_media":530352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/b38902fe-0cdf-44aa-9ce6-9cdef7686b6e.jpeg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-530351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/530351","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=530351"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/530351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/530352"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=530351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=530351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=530351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}