he price of Bitcoin was rangebound on early Friday around the $56k handle. The world’s largest cryptocurrency began to decline during the US cash session to about $54k-$53k handle by late afternoon. Then at midnight into the early hours of Saturday morning, Bitcoin experienced a massive liquidation and crashed into a bear market around the $42k level. Price has recovered some, now trading around $47k.
So far, Bitcoin has found support on the daily 200sma.