HSBC stock hits 25-year low: 5 things to watch in Bitcoin this week

Bitcoin (BTC) starts a new week still looking for $11,000 support as macro markets wobble over coronavirus and banks’ criminal activities. A pair of advertisements in Hong Kong for Bitcoin and HSBC ironically summarized the status quo, with statistician Willy Woo tweeting: Central banks around the world continue to deal with coronavirus fallout, meanwhile, and the European Central Bank (ECB) will meet to discuss its response — and possible implications for the euro — this week.

There was more good news for Bitcoin analysts eyeing network strength this week as difficulty and hash rate stayed at all-time highs. The ranging behavior continued a pattern from last week, during which Bitcoin nonetheless managed to exit higher from fundamental support at $10,000.

Timeline of Bitcoin