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Bitcoin kicks off Thanksgiving by losing $ 1,000 in three hours
After a major bullish trend, Bitcoin corrected and lost $ 1,000 in just three hours.
Having shown the fastest growth in a year, Bitcoin finally corrected itself, losing over $ 1000 in about 3 hours.
Bitcoin was trading at $ 18,869 at 0:00 UTC on Coinbase. Bitcoin began a sharp correction, losing about 12% of its value in 48 hours just after hitting exactly $ 19,500 on Coinbase.
While the Asian bears seem to be in control, the truth is that the charts show several indicators that show some calmness. Bitcoin bounced right off the EMA 20 line, indicating that the bullish trend is still likely to continue.
The RSI is admittedly still high at 61.14, but falling from 83.88 just hours before the crash could be a breath of fresh air for traders nervous about the massive sell-off.
Bitcoin loses $ 1,000
Ethereum Starts Corrective Decline Why Recovery May Be Limited
Ethereum formed a short-term top around $ 620 and began a sharp decline against the US dollar.
After forming a short-term top near the $ 620 level, Ethereum began a sharp downward correction. ETH settled below the $ 600 level and could not hold above the $ 580 support level.
A clear break below the $ 580 support level triggered a strong fall. The price of ether fell significantly below the support of $ 550 and even dropped below the 100-hour simple moving average. There was also a break below the main decline channel with support around $ 565 on the hourly ETH dollar chart.
The price dropped below the $ 520 support and traded to $ 507. It is currently recovering and trading above the $ 525 level. Ether is testing the 23.6% Fibonacci retracement level of the recent decline from the swing high of $ 605 to the low of $ 507.
Ethereum price corrected lower
OKEx To Resume Withdrawals On Nov 26 As Police Investigation ‘Temporarily’ Draws To End
OKEx announced that it is time to resume withdrawing cryptocurrency.
The crypto exchange announced that it is expected to resume withdrawals at 8:00 UTC on November 26. The post follows a highly anticipated update last week, in which the exchange informed users that it will resume asset stripping by November 27.
The exchange has also rolled out a series of incentive programs starting Friday this week to try to retain users and avoid churning out large amounts of crypto assets.
OKEx intends to resume withdrawals
Binance P2P Launches Express Mode for INR, HKD and VND
The cryptocurrency market is expanding in terms of the value of most digital assets and its total market capitalization.
Express Mode will allow users to buy and sell USDT and BTC for Indian Rupee, Hong Kong Dollar and Vietnamese Dong on a mobile app. The ad explains that the user will be able to place an order directly by entering a fiat or cryptocurrency amount through their preferred payment method.
Adding these fiat money may be a deliberate decision by the exchange given the growing demand for P2P in these countries. Asia was the second largest continent after North America in terms of P2P volume. In Asia, India and China account for 33% of the total P2P volume, with the remaining third being shared by other Asian countries.
Binance P2P Express Mode Launch
VanEck Europe Launches Bitcoin-enabled ETN Listed on Deutsche Börse
VanEck Europe has launched exchange-traded notes physically backed by bitcoin.
VanEck, founded in 1955, is one of the world’s largest investment management companies. Its European subsidiary VanEck Europe has announced the official release of an ETN physically backed by Bitcoin.
The statement came from the company’s director for digital assets, Gabor Gurbak. He noted that launching such a service was “a top priority for VanEck.”
ETN will be listed on the Xetra Frankfurt Stock Exchange. Its price characteristics will reflect the MVIS CryptoCompare Bitcoin VWAP Close Index, which is directly related to the movement of Bitcoin.
VanEck Europe launches ETN
Galaxy Digital Bitcoin Funds Raise $ 59 Million In Institutional Cash Flow
Galaxy Digital Bitcoin funds raised $ 58.7 million in their first year.
As reported in two Form D documents, Galaxy Institutional Bitcoin Fund LP raised $ 55.1 million, while its younger brother Galaxy Bitcoin Fund LP raised $ 3.6 million. Both funds were launched last November when Mike Novogratz first introduced his investment company to cryptocurrencies from the perspective of a bitcoin fund.
In particular, the institutional fund appears to be catching a surge in high roller interest in bitcoin. With a minimum investment of $ 250,000, the $ 55 million fund attracted 33 investors with an average size of $ 1.6 million.
Galaxy Digital Bitcoin raised $ 59 million/