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3 reasons why Bitcoin is likely heading below $16,000 By Cointelegraph


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December will likely be remembered by Bitcoin’s (BTC) fake breakout above $18,000, but apart from that brief overshoot, its trajectory was entirely bearish. In fact, the downward trend that currently offers an $18,850 resistance could bring the BTC price below $16,000 by mid-January.

Bitcoin/USD price index, 12-hour chart. Source: TradingView

A handful of reasons can explain the negative movement, including the reported withdrawal of the Mazars Group auditing firm from the cryptocurrency sector on Dec. 16. The company previously handled proof-of-reserve audit services for Binance, KuCoin and Crypto.com.

3-month futures annualized premium. Source: Laevitas
Bitcoin 30-day options 25% delta skew: Source: Laevitas