Earlier this week Ethereum’s token Ether (ETH) took a serious tumble as Bitcoin (BTC) price swiftly broke down to $6,560 on Nov. 25. The price dropped through numerous supports, forming a bottom at $131.60, a point not seen since March 25.
As one would expect, Bitcoin’s drop to $6,560 quickly led the crypto market to become oversold and a strong relief rally took place with many altcoins. Bitcoin eventually followed with a 3-day $1,000 recovery, which brought the price as high as $7,600 on Nov. 27.