Early Bitcoin Black Friday Sale Today
This morning saw Bitcoin dip to @ $55K but as those in this for a while know, there’s nothing to fear and if you have the ability, there’s cheap Bitcoin to be had out there – price has moved back up to @ $57K
Bitcoin Attempts Price Recovery After a Derivatives-Led Slide to Sub-$56K
“Bitcoin is looking to regain its footing, having reached five-week lows early Friday in a move market participants said was driven by derivatives.
The top cryptocurrency had recovered to $57,200 at press time from the low of $55,666 reached during the early European hours. That was the lowest level since Oct. 13.
The early drop was predominantly driven by traders taking short positions in the perpetual futures market, according to Ki-Young Ju, CEO of blockchain analytics platform CryptoQuant. ‘The market sentiment was sell, according to the taker buy-sell ratio,’ Ju said. ‘More people were shorting bitcoin via market orders.’”