Bitcoin wäert de "laange Bärmaart" gesinn, seet den Händler mam BTC Präis fest bei $19K

Bitcoin (BTC) failed to reclaim recent losses into July 2 as traders prepared for stagnant price action to continue.

“Downtrend acceleration” still in force

Daten vum Cointelegraph Mäert Pro an TradingView tracked a limp BTC/USD as it chopped around the $19,000 mark into the weekend.

The Wall Street trading week had finished without surprises, with United States equities practically stagnant — providing little impetus for crypto volatility. The U.S. dollar index, or DXY, fresh from a Neistest of twenty-year highs, ran out of steam to circle 105 points.

Order book data from largest global exchange Binance showed BTC/USD caught between buy and sell liquidity close to spot price, ensuring a lack of volatility until traders maneuvered or added significantly to bids or asks.

Zooming out, the outlook hardly seemed any more optimistic for bulls.

For popular trading account Altcoin Sherpa, current conditions promised an extended period of uninspiring performance from Bitcoin which could last much of 2022.

“Its gonna take months to chop around and accumulate once the bottom is found,” it gesot Twitter Follower.

“And the bottom might not even come for another few months from today. Hunker down for a long bear market IMO.”

The sentiment was echoed by trader and analyst Rekt Capital, who argued that Bitcoin had not yet made new macro lows or started to consolidate.

#BTC may still very well be in the “Downtrend Acceleration” phase of its correction

But this phase will precede the “Multi-Month Consolidation” phase

Which will precede the “New Macro Uptrend” phase$ BTC # Krypto #Bitcoin

- Rekt Capital (@rektcapital) Juli 1, 2022

“Deleverage yourself. Get your Bitcoin into cold storage. Sit tight,” Checkmate, lead on-chain analyst at research firm Glassnode dobäi.

Will volume all-time highs echo 2018?

The next week or two could prove to be this cycle’s lows, meanwhile, lending a degree of hope to those concerned that the bottom is still months away.

Verbonnen: Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB

an engem Twitter Fuedem on the day, economist, trader and entrepreneur Alex Krueger noted that volume denominated in BTC hit all-time highs last month.

“As a general rule, trading volume is the highest when markets capitulate,” he explained.

Als allgemeng Regel ass den Handelsvolumen deen héchsten wann d'Mäert kapituléieren, an esou Kapitulatioun erstellt grouss Bottomen.

Dës wöchentlech Grafik enthält den aggregéierte Bitcoin Volumen fir déi meescht BTC Pairen (Spot & Perpetualen iwwer Austausch).

De Volume huet seng all Zäit héich virun zwou Wochen erreecht. pic.twitter.com/6ONLibQiL2

- Alex Krüger (@krugermacro) Juli 2, 2022

In the 2018 bear market, he added, the volume all-time high in fact occurred several weeks before the price bottom, and should this time follow the trend, July could be the site of the next.

Previously, Rekt Capital had argumentéiert that buy-side volume had not been strong enough to sustain fresh price upside in the long term, while also Highlight the 2018 volume moves.

D'Meenungen a Meenungen hei ausgedréckt sinn eleng déi vum Autor a spigelen net onbedéngt d'Meenunge vu Cointelegraph.com. All Investitiouns- an Handelsbewegung implizéiert Risiko, Dir sollt Är eege Fuerschung maachen wann Dir eng Entscheedung hëlt.