Research Weekly - Notes on a Candle

October 14, 2023

IN TODAY'S ISSUE:We look at last week’s selloff to determine causes and a potential path forward. Bitcoin rallied to a yearly high, but the moment was short-lived, as bitcoin quickly traded back down while many alts continued to rally. Binance Trades at a Discount to CoinbaseBitcoin price began to trade off at around 5:41 PM ET on Thursday evening. Just minutes prior, bitcoin had been trading at around $27,500, but at its lowest point, the spot price on Coinbase dipped to $25,234. ReflectionsWhile not conclusive, our best guess as to the reason for last week’s sell-off had to do with poorly positioned trading positions into a tough setup for longs.

The source of this news is from NYDIG