Bitcoin is in recovery mode today. As of writing, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $6,523, having reached a high of $6,559 so far. As per CoinMarketCap, the cryptocurrency has gained 3.54 percent in the last 24 hours.
Still, chart analysis indicates that BTC has retraced 38.2 percent of the sell-off from Nov. 8 high to Nov. 12 low. That's when prices hit a two-and-a-half week low near $5,500 – a near 30 percent sell-off from last week's record highs.
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