Here’s why Bitcoin losing $6K in hours was good for BTC price action

Bitcoin (BTC) traded just below $65,000 on Nov. 11 after an overnight correction canceled out previous snap gains.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

“No free lunch” for speculators

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering after briefly dipping below $63,000 in fresh volatility.

The pair had moved up sharply on the back of United States inflation hitting its highest in 30 years, this combining with derivatives market reactions to…


Source link

About bitcoin

Check Also

Giant Bitcoin 'Taproot Wizard' NFT Minted in Collaboration With Luxor Mining Pool – CoinDesk

Please note that our privacy policy, terms of use, cookies, and do not sell my …

Leave a Reply

Your email address will not be published. Required fields are marked *