Bitcoin (BTC) stored merchants guessing to the final minute into the 2022 yearly shut as volatility remained absent from the market.

BTC/USD 1-day candle chart (Bitstamp). Supply: TradingView

BTC worth: The place’s the volatility?

Information from Cointelegraph Markets Professional and TradingView confirmed BTC/USD clinging to a well-known space round $16,500.

The pair continued to disappoint gamers on either side of the commerce after a sideways Christmas, ignoring the potential significance of the simultaneous weekly, month-to-month, quarterly and yearly candle shut.

“Technical resistance and overhead liquidity suggests sub $17k native prime, however something goes within the Wild Wild West,” on-chain analytics useful resource Materials Indicators wrote in a part of commentary on the Binance BTC/USD order ebook.

An accompanying chart nonetheless confirmed an absence of great help above $16,000, with resistance overhead at $17,000.

BTC/USD order ebook information (Binance). Supply: Materials Indicators/ Twitter

Wanting barely past the shut, Arthur Hayes, former CEO of alternate BitMEX, hoped that Bitcoin wouldn’t fall below its post-FTX ground round $15,500.

“If $BTC can maintain FTX lows that is optimistic. Let’s examine what the brand new yr brings,” a part of feedback said as a part of a warning about US greenback liquidity.

Extra categorical when it got here to bearish forecasts was standard dealer Crypto Tony, who doubled down on his present idea that additional draw back would precede Bitcoin’s restoration.

“This stays my macro outlook on Bitcoin the place we see one other pullback decrease earlier than accumulation previous to the following bull run,” he informed Twitter followers.

BTC/USD annotated chart. Supply: Crypto Tony/ Twitter

Bitcoin dominance on account of January enhance

A small dose of fine information for BTC bulls in the meantime got here from Toni Ghinea, who on Dec. 30 eyed an rising crypto market cap dominance development.

Associated: ‘Crypto winter’ will not finish in 2023 — Bitcoin advocate David Marcus

Regardless of additionally calling for recent draw back to afflict Bitcoin worth motion, Ghinea now mentioned that it might be altcoins bearing the brunt of the anguish.

“BTC Dominance will push up within the subsequent weeks. Extra ache for alts. is coming,” he tweeted on Dec. 30

Bitcoin market cap dominance annotated chart. Supply: Toni Ghinea/ Twitter

The views, ideas and opinions expressed listed below are the authors’ alone and don’t essentially mirror or signify the views and opinions of Cointelegraph.


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