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Crypto regulation is coming, but Bitcoin traders are still buying the dip

Published 12/20/2021, 06:30 PM
Updated 12/20/2021, 08:00 PM
© Reuters.
BTC/USD
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Looking at the Bitcoin chart from a weekly or daily perspective presents a bearish outlook and it's clear that (BTC) price has been consistently making lower lows since hitting an all-time high at $69,000.

Bitcoin/USD on FTX. Source: TradingView

Curiously, the Nov. 10 price peak happened right as the United States announced that inflation has hit a 30-year high, but, the mood quickly reversed after fears related to China-based real estate developer Evergrande defaulting on its loans. This appears to have impacted the broader market structure.

Bitcoin CME 2-month forward contract premium versus Coinbase/USD. Source: TradingView
Exchanges top traders Bitcoin long-to-short ratio. Source: Coinglass.com

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