The bitcoin price stands at around $64,800 on Sunday morning, roughly €58,800 (as of early morning, November 15, CoinGecko data). What is confirmed: overnight, the largest cryptocurrency slid on the US exchange Coinbase to as low as $61,946 between 2 and 3 a.m. CET, then climbed to $65,098 in the following hour, a jump of just over five percent. Our assessment follows further down: the recovery is mainly a flush-out of leverage, not yet a trend reversal.
For investors, one date matters most today. At 1 a.m. CET on Monday night, the weekly candle closes. This is the weekly segment of the price chart that runs from Monday 00:00 to Sunday 24:00 UTC and sums up the week in four values: open, high, low and close. The current week opened last Monday at $74,757. If bitcoin stays where it is now until midnight UTC, the week's loss will be 13.4 percent. At the same hour, the Chicago futures exchange CME reopens after being closed since Friday evening.
Bitcoin price overnight: from $61,946 to above $65,000 in one hour
The sell-off did not start overnight. At midnight on Saturday, one bitcoin still cost just over $68,200 on Coinbase. In t...
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