He noted that if bitcoin falls below the aforementioned price points, the “$10,000 level would be a major support level.”
“Not only is $10,000 a round number that psychologically attracts investors, but it also served as support before the last major breakout back in late 2020,” said Sifling.While many cryptocurrencies suffered losses because of the recent FTX saga, it “seems the market has currently priced most foreseeable defaults/contagion” regarding the exchange’s failure, Aguilar claimed.
“Despite a volatile week, based on data from Coinglass, investor open interest in CME BTC futures slightly increased during the week, with volume north of $25B with $1.5B in CME open interest,” he stated, citing figures gathered November 15.
Look, as with all bubbles, real values will surface and a new group of speculators will again try to outsmart the rest by engaging in more of the same.
ask Sam
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