Bitcoin Bloodbath Takes Crypto To New Bear Market Lows BTCUSD November 8, 2022

In this episode of NewsBTC’s daily technical analysis videos, we examine the bloodbath across crypto today and the new record low for this Bitcoin bear market.

Take a look at the video below:

VIDEO: Bitcoin Price Analysis (BTCUSD): November 8, 2022

It was a highly volatile day in crypto markets, led by a battle between FTX and Binance that ultimately might end with Binance owning FTX.com. The two company’s CEO’s public spat caused the already fearful crypto market to collapse further. As a result, Bitcoin price made a new bear market lower low, setting a new record low for all of 2022 at the same time. 

Bulls Demoralized, Bound To Ignore Exhaustion Signal

It is hard to imagine much hope for bulls at this very moment. After months of consolidation and a failed attempt at a breakout, bears appear to have regained control. Of the few notable bullish signals – if any remain at all – the TD sequential on daily timeframes has triggered a perfected TD 13 countdown setup, which could indicate that today’s massacre was a buy and the bear trend has been exhausted.

Today’s uptick in trading volume seems to confirm more downside – or is the heavy volume the capitulation we have been waiting for instead?

Will bulls ignore these exhaustion signs? Source: BTCUSD on TradingView.com

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Featured image from iStockPhoto, Charts from TradingView.co

In this episode of NewsBTC’s daily technical analysis videos, we examine the bloodbath across crypto today and the new record low for this Bitcoin bear market.

Take a look at the video below:

It was a highly volatile day in crypto markets, led by a battle between FTX and Binance that ultimately might end with Binance owning FTX.com. The two company’s CEO’s public spat caused the already fearful crypto market to collapse further. As a result, Bitcoin price made a new bear market lower low, setting a new record low for all of 2022 at the same time. 

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