What the data shows: on Tuesday morning bitcoin trades only 0.45 percent above its 100-day average, and at the intraday low it briefly slipped below it for the first time since mid-August. Our view follows further down. The brief dip below the line matters less than whether a daily close below it follows, and that close falls on the night of the US election.
Bitcoin costs $76,887 at 05:47 CET on Tuesday, November 3, or 68,720 euros. That is 1.95 percent less than 24 hours earlier, according to CoinGecko. The range over the past day runs from $76,498 to $78,374, and bitcoin worth $26.7 billion changed hands.
Bitcoin price on Tuesday morning: an intraday low just below the 100-day line
The overnight decline is small on its own. Bitcoin has given up 3.6 percent over the past seven days and 9.4 percent over 30 days. What stands out is where the price now sits. By our own calculation from CoinGecko daily data, the average of the last 100 daily closes is around $76,540. The intraday low of $76,498 was therefore a little more than $40 below it, w...
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