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Bitcoin price news – live: Crypto market steadies as BTC enters rare ‘oversold’ territory

The Independent
The Independent
 2021-12-09

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The price of bitcoin has slipped below $49,000 on Thursday after briefly returning above $50,000 on Wednesday, with one metric placing the crypto market on the “extreme fear” end of the scale following last week’s crash.

The Fear and Greed Index, which measures market sentiment, hit its lowest level since July after BTC dropped as low as $45,000 on Friday, with some cryptocurrency analysts and investors using this as a key signal to buy.

Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL) and Cardano (ADA) are all down by between 1-5 per cent over the last 24 hours.

The combined losses have wiped around $100 billion from the overall crypto market, pushing it back below $2.3 trillion.

Bitcoin remains a long way off the all-time high it experienced last month of close to $69,000, with experts divided over whether the market has turned bearish, or will rebound to new record highs before the end of the year.

We’ll have all the latest news, analysis and expert price predictions right here.

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