Bitcoin Price Dips Below $87K on OKX After 3.19% Drop
Data from OKX shows Bitcoin price initially plunged below $87,000 on Nov. 21, dropping 3.19% to $86,998.30 amid heightened volatility. By Nov. 26, the cryptocurrency retraced only 0.01% intraday, trading near $86,983.50 with limited market swings and no major sell-off. Traders should watch the key support at $85,000, monitor volume and order book depth for signs of a rebound or further downside in Bitcoin price, and stay alert to macroeconomic data and regulatory updates that could influence crypto market stability.
Neutral
The initial 3.19% drop below $87,000 indicated significant bearish pressure and potential stop-loss liquidations. However, the subsequent minimal 0.01% intraday pullback and absence of a major sell-off point to market consolidation around the $87K threshold. Short-term traders are likely to stay cautious, watching key support at $85,000 and monitoring volume and order book depth. Long-term trends will depend on macroeconomic releases and regulatory developments, resulting in an overall neutral market impact.