{"id":13775,"date":"2021-11-15T17:20:04","date_gmt":"2021-11-15T16:20:04","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=13775"},"modified":"2021-11-15T17:20:36","modified_gmt":"2021-11-15T16:20:36","slug":"bitcoin-falls-from-66k-elon-musk-could-sell-stock","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-falls-from-66k-elon-musk-could-sell-stock\/","title":{"rendered":"Bitcoin Price Falls from $66,000, Elon Musk Warns He Could Sell More Stock"},"content":{"rendered":"\n
After rebounding overnight, Bitcoin is following TSLA south, which is a familiar pattern to start the week as BTC and TSLA falls <\/h5>\n\n\n\n
\"Bitcoin
Bitcoin Price Falls from $66,000, Elon Musk Warns He Could Sell More Stock<\/figcaption><\/figure>\n\n\n\n

As U.S. markets began on Nov. 15, Bitcoin (BTC) hit $65,000 as support after a weekend rally ended in a pullback.<\/p>\n\n\n\n

The price of Bitcoin is expected to rise in the near future, according to analysts<\/h2>\n\n\n\n


BTC\/USD gave back a part of its overnight gains after hitting local highs above $66,000, according to data from Cointelegraph Markets Pro\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and TradingView<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

In a break from recent patterns, the pair failed to climb further into the opening of Wall Street trade, instead aiming for April's previous all-time high.<\/p>\n\n\n\n

Higher levels were more necessary to Cointelegraph writer Michal van de Poppe in order to maintain general bullish momentum in the short term.<\/p>\n\n\n\n

Along with an annotated graphic, he noted<\/use><\/svg><\/span><\/a>, “Still looking at a probable rising wedge pattern here.”<\/p>\n\n\n\n

“Clear bullish breaker if Bitcoin breaks above $66.4-66.8K.”<\/p><\/blockquote>\n\n\n\n

Other signs drew attention, indicating that there may be a lot more room for price growth before conventional cycle peak signals appear.<\/p>\n\n\n\n

Philip Swift, author of data portal Look Into Bitcoin, compared the present market to the “overheated” climate of early 2021 by highlighting the spent output profit ratio (SOPR).<\/p>\n\n\n\n

\"\"
Bitcoin SOPR chart. Source: Philip Swift\/ Twitter<\/em><\/figcaption><\/figure>\n\n\n\n

“The daily p\/l levels on-chain are extremely low. Yesterday was close to being negative once more. We're still a long way from the overheated levels visible on the chart's left side “He made a commen<\/use><\/svg><\/span><\/a>t:<\/p>\n\n\n\n

“With funding pretty flat too, probably not much longer before we start meaningfully trending up again.”<\/p><\/blockquote>\n\n\n\n

SOPR<\/use><\/svg><\/span><\/a> examines the price at which coins moved over a given time period and can be used to predict investor behavior at various stages of Bitcoin's price cycle.<\/p>\n\n\n\n

Tesla Fall Demonstrates the Need for Crypto Testing <\/h2>\n\n\n\n
\"Bitcoin
TSLA 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n\n\n\n

Meanwhile, Ether (ETH<\/use><\/svg><\/span><\/a>), Solana (SOL), and Polkadot (DOT) were the top three main altcoins for the day, with other tokens seeing little progress.<\/p>\n\n\n\n

At the time of writing, ETH\/USD was up 2.6 percent, closing close on both all-time highs and the $5,000 psychological barrier.<\/p>\n\n\n\n

Want me to sell more stock, Bernie? Just say the word \u2026\u2014 Elon Musk (@elonmusk)\u00a0November 14, 2021<\/use><\/svg><\/span><\/a><\/p><\/blockquote>\n\n\n\n

Tesla<\/a> (TSLA) plunged nearly 3% on traditional markets as the U.S. markets opened, a move that drew copycat behavior from Bitcoin in particular, as it did at the same time last week.<\/p>\n\n\n\n

Elon Musk, the CEO of Tesla, vowed to increase his stock sell-offs after a heated Twitter argument.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

After rebounding overnight, Bitcoin is following TSLA south, which is a familiar pattern to start the week as BTC and TSLA falls As U.S. markets began on Nov. 15, Bitcoin (BTC) hit $65,000 as support after a weekend rally ended in a pullback. The price of Bitcoin is expected to rise in the near future, […]<\/p>\n","protected":false},"author":29,"featured_media":13776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,25],"tags":[5436],"class_list":["post-13775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-market-analysis","tag-bitcoin-elon-musk-tesla-market"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Bitcoin-Price-Falls-from-66000-Elon-Musk-Warns-He-Could-Sell-More-Stock.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=13775"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/13776"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=13775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=13775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=13775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}