After a market capitulation of BTC, most of the altcoins and Bitcoin’s itself dropped over 30% of the value. This led people to panic-sell their position in the market and resulted in a huge crash as if there was a bloodbath. Recent lowest price of Bitcoin was 42k, but currently, Bitcoin is trying to recover from the red weekend currently, bitcoin’s price is 51k, and bulls are trying to hold the line while the bears are trying to capitulate the market more.
Some analysts are saying that there might be a Santa rally right before ending of the year. Remembering that last year Bitcoin and All altcoins started up with a massive rally to the new year, this year might be the same, but the situation is unclear. To keep rising, btc must hold the 50k level so a crash like that would not happen and creates a chance for bitcoin to make a new all-time high.