Bitcoin (BTC) rebounded to well-nigh $50,000 on Dec. v equally traders continued to accept stock of recent events.

BTC/USD 1-60 minutes candle nautical chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView followed a less volatile BTC/USD every bit it rose to $49,777 on Bitstamp before consolidating.

Fresh off a crash to $41,900 early Sabbatum, the pair stabilized as the market digested what was the latest giant deleveraging event to hit Bitcoin this twelvemonth.

For some, yet, in that location was every reason to stay cautious and non disbelieve another sweep of long-term lows.

"We dip one more time. CT loses its shit and sell more. Just it miraculously gets bought upwardly," Lex Moskovski, primary investment officeholder of Moskovski Capital, predicted in part of comments on Bitcoin'southward prospects.

"Consolidation, a slow grind upwards."

That slow grind now has no shortage of significant support levels to recapture: $l,000 and the $ane-trillion market capitalization zone just above $53,000, as well every bit various previous all-time loftier levels.

Fellow trader and analyst Rekt Upper-case letter, meanwhile, eyed the 200-day exponential moving average (EMA), a back up line that had held since August but was broken in Saturday's dip equally a potential line in the sand.

Late September, when BTC/USD final traded at the $42,000 level, likewise saw a examination of the 200EMA, and Rekt Capital noted that the severity of the dip still pales in comparison to previous ones from history.

"You survived the -84.5% BTC Deport Market. You survived the -63% $BTC crash in March 2022. You survived the -53% BTC crash in May 2022. You'll survive this crash likewise," he added.

Enough flush?

A look at the condition quo on derivatives markets showed funding rates either neutral or slightly negative at the time of writing, a marked deviation from only days ago.

Related: Ethereum acts as a 'hedge' in Bitcoin cost crash every bit ETH/BTC hits 3-year high

A significant clamper of open interest on futures was wiped out during deleveraging, and over $ii.5 billion of crypto accounts were liquidated.

The question for commentators now was whether enough of the barm had been removed to ensure a return to steady growth.

The weekly close, meanwhile, looked set to be Bitcoin'south everyman since the get-go of October.