Bitcoin hits session low as it eyes the key 40 000 zone
Budrigantrade.com - Bitcoin is back under tension with a $1200 fall in the beyond couple of hours. In the last few minutes, sales have increased to $40,769.
Along with $40,000, the key support level today will be $40,516, the weekend low.
A run on stops could occur if that breaks, but there is some hope that the September low of $39,569 will hold.
In terms of weekend news, CoinDesk and Tether are engaged in a fascinating dispute as the news organization pursues a freedom of information request to obtain access to disclosures on reserves made to New York regulators. Tether reacted negatively to that, but it only serves to exacerbate suspicions regarding the stablecoin's $71 billion backing.
The current state of the market as a whole is one of risk aversion, which is not good news for technology or cryptocurrency, which have largely traded side by side this year. Futures on the Nasdaq are down 1.1%.
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