Bitcoin price may still drop 40% after FTX ‘Lehman moment’ — Analysis By Cointelegraph

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Bitcoin price may still drop 40% after FTX ‘Lehman moment’ — Analysis

(BTC) saw a fresh rejection at $17,000 on Nov. 18 as nervous markets weathered more FTX fallout.

1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to flip $17,000 to support — a trend in place for almost a week.

BTC/USD vs. vs. S&P 500 chart. Source: QCP Capital
S&P 500 annotated chart. Source: Cantering Clark/Twitter
Bitcoin futures open interest chart. Source: QCP Capital
DEX volumes chart. Source: QCP Capital