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Bitcoin dips below $50K as Evergrande defaults on US dollar debt
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Bitcoin (BTC) kept $50,000 as a focus on Dec. 9 as consolidation on BTC/USD continued to avoid last week’s lows.
Data from Cointelegraph Markets Pro and TradingView showed the pair acting within a small range around the $50,000 mark overnight, this yet to become firm support.
“Chop, chop, chop it is for Bitcoin,” Cointelegraph contributor Michaël van de Poppe wrote on the day.
Amid broadly calmer conditions despite macro markets dealing with an unprecedented debt default from China’s Evergrande property giant, analysts thus focused increasingly on longer-term phenomena to gauge Bitcoin price action’s overall health.
“Bitcoin appears on track,” popular Twitter account TechDev summarized Wednesday in an optimistic discussion comparing this year
Read more on cointelegraph.comAbout this in other media
Bitcoin struggles to hold $47K as Fed meeting adds to 'extreme' BTC market panic cointelegraph.com /3 years ago
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Bitcoin price slips below $47K as stocks, crypto prepare for this week’s FOMC meeting cointelegraph.com /3 years ago
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