Bitcoin (BTC) headed higher into the Nov. 22 Wall Street open after setting another two-year low.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewThanksgiving buywall appears at $12,000
Momentum took the pair to $16,189 before consolidating, marking gains of 3.7% versus the day’s lows.
Talk among analysts remained tied to the Digital Currency Group family, including Grayscale, currently at the center of rumors over the fallout from the defunct exchange FTX.
For monitoring resource Material Indicators, a “guard rail” bid at $12,000 could ultimately be what protected the market should a major capitulation occur over the Thanksgiving holiday period.
“Over $300M in BTC bid liquidity between here and $12k,” it