BTC Traders Brace for a $30,000 Loss - 5 Things to Know About Bitcoin This Week
BTC's price performance has short-term market participants worried, but signs of broader Bitcoin accumulation are there.
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Bitcoin (BTC) starts another week above $30,000 but goes nowhere as multi-month trading range refuses to change.
BTC price action only gives traders a frustrating sense of deja vu as they wonder what it would take to change the trend.
Perhaps it is more accurate to say that over short time frames, a trend is exactly what Bitcoin lacks. The biggest cryptocurrency has spent weeks swinging between bullish and bearish pockets of liquidity without deciding whether the bulls or bears will ultimately win.
This struggle continues to unfold with predictable regularity, and nothing – not macroeconomic data printouts, institutional involvement or anything else – has been able to change things.
With that in mind, it may not be so problematic that the week ahead offers little in terms of risk asset catalysts based on US or Federal Reserve data.
>Bitcoin on-chain data indicates a phase of reaccumulation among the investor base, perhaps reflecting a “calm before the storm” mentality ahead of a larger market move.
Crypto market sentiment is "neutral", according to the Crypto Fear & Greed Index, which is nonetheless at its lowest point in July so far.
Cointelegraph looks at these factors and more to determine potential BTC price triggers for the days ahead.
Bitcoin's Weekly Close Keeps Volatility AwayBitcoin's weekly candle close refreshingly opted out of volatility, data from Cointelegraph Markets Pro and TradingView shows.
BTC/USD 1 week chart. Source: TradingViewWhile normally a period of erratic short-term price movements, th...
BTC's price performance has short-term market participants worried, but signs of broader Bitcoin accumulation are there.
Market news
Join us on social networks
Bitcoin (BTC) starts another week above $30,000 but goes nowhere as multi-month trading range refuses to change.
BTC price action only gives traders a frustrating sense of deja vu as they wonder what it would take to change the trend.
Perhaps it is more accurate to say that over short time frames, a trend is exactly what Bitcoin lacks. The biggest cryptocurrency has spent weeks swinging between bullish and bearish pockets of liquidity without deciding whether the bulls or bears will ultimately win.
This struggle continues to unfold with predictable regularity, and nothing – not macroeconomic data printouts, institutional involvement or anything else – has been able to change things.
With that in mind, it may not be so problematic that the week ahead offers little in terms of risk asset catalysts based on US or Federal Reserve data.
>Bitcoin on-chain data indicates a phase of reaccumulation among the investor base, perhaps reflecting a “calm before the storm” mentality ahead of a larger market move.
Crypto market sentiment is "neutral", according to the Crypto Fear & Greed Index, which is nonetheless at its lowest point in July so far.
Cointelegraph looks at these factors and more to determine potential BTC price triggers for the days ahead.
Bitcoin's Weekly Close Keeps Volatility AwayBitcoin's weekly candle close refreshingly opted out of volatility, data from Cointelegraph Markets Pro and TradingView shows.
BTC/USD 1 week chart. Source: TradingViewWhile normally a period of erratic short-term price movements, th...
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