The cost of Bitcoin (BTC) has continued to decline on November 26 as selling pressure morphs into biggest losses In the words of US. It. Dollars Since March.
Bitcoin price drops more than $ 3000 in 24 hours
Data from Cointelegraph Markets and TradingView tracks the BTC / USD when it lost support at $ 17,000 to reach new local lows of $ 16,300.
At press time, a bounce had secured the $ 16,800 mark, but high volatility remained. Recent losses continue a downtrend, which began overnight on Wednesday, shortly after Bitcoin hit highs of just under $ 19,500.
At the same time, the big exchange OKEx announced that it has restarted withdrawals. Ki Young Ju, founder of the analytics analytics service CryptoQuant, noted the increase in activity from OKEx withdrawals to wallets and other exchanges.
“BTC flows from OKEx to all other exchanges reached 493 BTC at that time“, Written In his latest Twitter update.
“83% of the total outflows are to wallets that are not exchanged such as custody. It could be a long-term bullish signal.”
Regulatory warnings in the United States
Additional bad fuel came from Brian Armstrong, CEO of Coinbase, which Commented Recent rumors that the United States is planning to introduce a new regulation that goes up wallets with cryptocurrency.
“If this regulation of cryptocurrency comes to light, it would be a terrible legacy and have long-standing negative impacts for the United States. Thank God they did not, “he warned.
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