Losing Bitcoin Addresses Hit All-Time High Amid $18,000 BTC Price Target

More entities than ever are underwater at current prices, but there is no consensus on improvement yet conditions.

Market Update

Bitcoin (BTC) reached the weekly close on July 3 after weekend trading produced a brief wick below $18,800.

BTC/USD 1 hour candle chart (Bitstamp). Source: TradingViewBollinger Bands Signal Due Volatility

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it remained rigid at $19,000 for a third straight day.

The pair had lost some volatility overall over the weekend, but at the time of writing, it was still on track for the first weekly close below the all-time high of its previous down cycle. half since December 2020.

The previous weekend's action had produced a late surge that saved the bulls from a close below $20,000.

However, momentum remained weak throughout Wall Street's session the following week, and traders were unconvinced of the potential for a significant relief bounce.

"We are looking for a push towards the sub-$18,000 support zone while below $19,300. Scalp fast...