Bitcoin (BTC) showed no signs of tackling the $ 60,000 resistance on Nov. 23 as the specter of the defunct Mt. Gox exchange haunted price action again.
Mt. Gox makes waves with payments yet to come
Data of Cointelegraph Markets Pro and TradingView showed that BTC / USD again reversed progress, which had produced a local high above $ 59,500 on Monday.
The $ 55,000 return came as the latest events in the Mt. Gox rehab process, originally published on November 16, began to hit the media.
In a ad, Trustee Nobuaki Kobayashi confirmed that the plans had now become "final and binding", with the implication that the 141,000 BTC in custody would soon be distributed.
"The Rehabilitation Trustee will then reimburse rehabilitation creditors who have rehabilitation claims allowed under the Rehabilitation Plan," it states.
"An announcement will be made to the rehabilitation creditors regarding the specifics of the specific timing, procedures and amount of such repayments."
While the details of the Mt. Gox conclusion have long been known, already shaky markets appeared to double down on Tuesday, and sentiment took a further beating.
According to the Crypto Fear & Greed IndexWhat was a "neutral" sentiment just a day ago is now firmly back in "fear" territory, the indicator measures 33/100 at the time of writing.
Business as usual for monthly move-ins
Meanwhile, popular trader and analyst Rekt Capital pointed out that in monthly time frames, Bitcoin was behaving completely reasonably.
Related: $ 60K Becomes Resistance: 5 Things To Watch Out For In Bitcoin This Week
After the highest monthly close in October history, a retest of the previous 2021 monthly support level now continues.
#BTC is still retesting this monthly level as support
The new monthly test remains intact, despite the downward volatility
With that said, it bears repeating that BTC could still easily go up this way for the rest of the month.
Monthly closing is key$ BTC #Crypto #Bitcoin https://t.co/9ginJXUJXX pic.twitter.com/99oye5epLb
- Rekt Capital (@rektcapital) November 22, 2021
Meanwhile, as in periods before the downturn, high-volume investors in the exchanges seemed to gamble and even try to accelerate new gains.
As noted by Charles Edwards, CEO of asset manager Capriole, levels of buyer support are increasing as Bitcoin fails to hit targets.
"Bitfinex whales once again upped their bids", revealed along with a platform chart showing $ 54,000 as a new focus instead of $ 50,000.
Post navigation
