{"id":307,"date":"2021-12-13T15:07:51","date_gmt":"2021-12-13T15:07:51","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=307"},"modified":"2021-12-13T15:07:51","modified_gmt":"2021-12-13T15:07:51","slug":"bitcoin-loses-48k-on-wall-street-open-as-trader-warns-altcoins-look-rekt-against-btc","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=307","title":{"rendered":"Bitcoin loses $48K on Wall Street open as trader warns altcoins look &#8216;REKT&#8217; against BTC"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) declined into the Wall Street open on Dec. 13 as stocks came off Friday&#8217;s record close.<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<p>Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD diving below $48,000 to reach multi-day lows at the time of writing.<\/p>\n<p>Equities had been tipped to add to all-time highs prior to the start of trading, this getting off to a cold start on the day with gains slipping.<\/p>\n<p>Correspondingly, Bitcoin added to losses which totaled over $3,000 in 24 hours.<\/p>\n<p>Traders thus continued to eye sideways or consolidatory movements for the near term, steering clear of any outright bullish calls.<\/p>\n<p>&#8220;Something like this would drive people nuts,&#8221; Scott Melker, known as the Wolf of all Streets, commented on a fresh chart prediction. <\/p>\n<p>&#8220;This is what I have been preparing myself for since the drop 10 days ago. I would prefer Up Only, so let&#8217;s hope that&#8217;s what we get.&#8221;<em>BTC\/USD annotated chart. Source: Scott Melker\/ Twitter<\/em><\/p>\n<p>Others had already called for limp price action concluding 2021, this countered by on-chain metrics calling for a return to strength for markets.<\/p>\n<p>&#8220;BTC\u00a0may be repeating the consolidation period it also experienced following its May 2021 crash,&#8221; trader and analyst Rekt Capital added on the day.<\/p>\n<p>He highlighted Bitcoin&#8217;s 50-week exponential moving average (EMA) and 21-week EMA as support and resistance levels respectively.<\/p>\n<h2>Bitcoin preserves 40% market cap dominance<\/h2>\n<p>Altcoins looked bleak as Bitcoin fell, fuelling suspicions that a return of &#8220;altseason&#8221; may have to wait.<\/p>\n<p><strong><em>Related:\u00a0\u2018I think BTC is ready\u2019 \u2014 5 things to watch in Bitcoin this week<\/em><\/strong><\/p>\n<p>Bitcoin market cap dominance, while hovering near six-month lows, managed to bounce back above 40% after a brief breakdown Thursday.<\/p>\n<p lang=\"de\" dir=\"ltr\">Alts look rekt. pic.twitter.com\/PGRvvJdQys<\/p>\n<p>\u2014 filbfilb (@filbfilb) December 13, 2021<\/p>\n<p>The latest move further threatened the stronger outliers in the altcoin story in recent weeks, notably Ether (ETH) against Bitcoin, which reversed from three-year highs to challenge new support.<\/p>\n<p><em>ETH\/BTC 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<p>&#8220;Overall, I think we are in &#8216;buy the dip&#8217; zones,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe argued on the broader major cap altcoin scene in his latest YouTube update.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-loses-48k-on-wall-street-open-as-trader-warns-altcoins-look-rekt-against-btc\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) declined into the Wall Street open on Dec. 13 as stocks came off Friday&#8217;s record close. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD diving below $48,000 to reach multi-day lows at the time of writing. Equities had been tipped to add to all-time highs prior [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=307"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/307\/revisions"}],"predecessor-version":[{"id":309,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/307\/revisions\/309"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/308"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}