Bitcoin hits $16,000 on Nov 21 fell below. Continuing to react to the news that the FTX contagion has affected yet another firm, Hong Kong-based cryptocurrency ATM firm Genesis Block has halted operations in an effort to stabilize its liquidity pool. Ethereum also fell as the price fell below $1,200.
Bitcoin
Bitcoin (BTC) fell below $16,000 earlier in the week as cryptocurrency market volatility continued to rise. fell below.
Following Sunday’s high of $16,590.42,BTC/USD fell to an intraday low of $15,943.14 today.
The move pushed the world’s largest cryptocurrency to its lowest level since November 14, when the price fell below the key support point of $16,200.
chart,BTC Continuing to trade lower The 14-day Relative Strength Index (RSI) is also hovering near its own low, a support point for today’s session.
The index is currently hovering at the 32.79 level, just below its key support point of 33.00.
If this drop continues, a Bitcoin bear could try to point the token towards his $15,600 lower floor.
Ethereum
BTC Similar to, Ethereum (ETH) has recently fallen two consecutive sessions on Monday, which protracted and stagnated.
ETH/USD dropped to a low of $1,110.57 and started the week less than 24 hours after reaching a high of $1,183.43. With
tokens down 4% today,ETH reached its lowest level since November 10th.
Bears appear to be targeting the $1,100 floor, Traders have so far rejected the offer and the token has bounced back, currently at $1,120.26.
As you can see on the chart, Monday’s price drop coincided with the RSI breaking the 37.75 floor, now at 34.61.
Momentum on the 10-day moving average (red) has shifted again, with the trendline suggesting further downside potential.
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