Bitcoin (Bitcoin) Part of the loss was stopped when Wall Street opened on November 26, after people were worried that the new COVID-19 variant would trigger a global market sell-off.

As the coronavirus panic begins, Pfizer shares rise

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD ended its downtrend on Bitstamp at a price slightly higher than $53,500.

With a sense of balance returning to the cryptocurrency market, this pair of currencies has increased by nearly $1,500 and is trading at approximately $54,400 at the time of writing.

Due to the proliferation of the new COVID-19 variant (named “Nu”), both crypto assets and traditional assets were hit that day, and some people claimed that this may cause problems for the vaccine program.

Pfizer is one of the major manufacturers of COVID-19 vaccines. It rose 7% at the opening of Wall Street, which clearly reversed the tight market downward trend. In contrast, the Standard & Poor’s 500 Index fell 1.5%.

Those who have witnessed the events of March 2020 will be familiar with that Bitcoin therefore abandoned its asymmetric investment characteristics and fell at the same time as stocks and the U.S. dollar.

The drop below $54,000 was accompanied by a series of familiar doubts from sources including mainstream media and CNBC. join in Bloomberg claims that Bitcoin has “entered the bear market.”

“Let’s see how the daily candlestick chart closes,” trader and analyst Rekt Capital said cautiously when talking about the impact of the day’s trend on the long-term prospects of Bitcoin.

#BTC Revisit the black diagonal resistance and reject there

When rejecting, Bitcoin Has returned to the bottom of the wedge structure

Daily closing below the bottom trend line will confirm the breakdown

Let’s see how the Daily candle closes#encryption #Bitcoin pic.twitter.com/xnEroEYfEj

— Rekt Capital (@rektcapital) November 26, 2021

BTC trading volume hit a record high

However, among crypto analysts and other long-term participants, there are still few signs of a real bearish trend.

related: Bitcoin offers “Black Friday transactions” at a price of less than $55,000 in BTC-just like 2020

“Massive corrections = massive buying opportunities,” Cointelegraph writer Michaël van de Poppe Summarize.

We are still at +$50K. real. Why are you so hurt?

— Looposhi (@22loops) November 26, 2021

Although the low of November 26 is already Not seen since mid-OctoberIn general, Bitcoin’s performance in the fourth quarter not only remained profitable, but was also completely consistent with previous bull market years.

“Bitcoin hit a record high in transaction volume yesterday, with a value of 36.5 billion U.S. dollars settled on the chain,” researcher Kevin Rooke Comment.