Bitcoin (BTC<\/a>) focused on $21,000 into the weekend amid warnings that volatility could still consume the market before Monday.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a>\u00a0showed BTC\/USD broadly higher in its recent trading range after U.S. stocks ended the week strong.<\/p>\n As noted by markets commentators Holger Zschaepitz, the S&P 500 sealed its second best week of 2022, indicative of modest relief across risk assets.<\/p>\n In case you missed it: S&P 500 has gained >6% in 2nd-best week of 2022 as disinflationary forces gather steam & #Fed<\/a> tightening expectations recede. Investors now see the key interest rate at only 3.4% at the end of 2022, a full 35bps lower than at the start of the week. pic.twitter.com\/pE4TsrXXAp<\/a><\/p>\n \u2014 Holger Zschaepitz (@Schuldensuehner) June 25, 2022<\/a><\/p><\/blockquote>\n Bitcoin was on track to log slights gains at its weekly close, the first weekly green candle \u2014 albeit small \u2014 since May.<\/p>\n Before then, however, anything could happens, according to on-chain analytics resource Material Indicators (MI).<\/p>\n Referencing recent weekend price action, MI recommended Twitter followers not to be complacent in the absence of weekday volume.<\/p>\n “If BTC can take out the 200 WMA there is room to run,” part of one post read<\/a>. <\/p>\n “Wknds have been wild so buckle up. A retest of the lows can come as fast as a rip to $24k.”<\/p><\/blockquote>\n An attached chart of order book data from largest global exchange Binance offered a glimpse into buy and sell plans from traders. Below spot price, there was little support in terms of volume until $19,000, while conversely, heavy resistance lay just north of $22,000.\u00a0<\/p>\n That level marked the key 200-week moving average (WMA) for BTC\/USD, this being necessary for bears to reclaim to change the trend, various sources believe<\/a>.<\/p>\n Altcoins were also calm on the day while eyeing an impressive week of gains within the gloomy overall macro market context.<\/p>\n Related:\u00a0Ethereum price breaks out as ‘bad news is good news’ for stocks<\/a><\/em><\/strong><\/p>\n In the top ten cryptocurrencies by market cap, several tokens stood around 30% higher than seven days previously at the time of writing.<\/p>\n Among them was Ether (ETH<\/a>), up 28% and lingering around $1,200.<\/p>\n In a dedicated order book post, MI noted that ETH\/USD had also performed a retest of the 200WMA, but that trouble could still lie ahead.<\/p>\n #ETH<\/a> with a legit retest of the 200 WMA on volume of the latest Trend Precognition signal. Want to see next week’s candle w\/ a clean open and close above it without another sweep of the lows to validate. Concerned the 21 WMA will cross the 100 WMA and trigger another dump. #NFA<\/a> pic.twitter.com\/aLOXFideJX<\/a><\/p>\n \u2014 Material Indicators (@MI_Algos) June 24, 2022<\/a><\/p><\/blockquote>\n Elsewhere, Shiba Inu (SHIB<\/a>) was up 50% versus last week, while Polygon (MATIC<\/a>) stole the show with 70% weekly gains.<\/p>\n For Cointelegraph contributor Micha\u00ebl van de Poppe, there was still every reason to enter crypto markets now.<\/p>\n “From an investment thesis (all things ceteris paribus), it’s a great period to look for those altcoins that you want to have,” he told<\/a> Twitter followers. <\/p>\n “In 2021, everyone dreamed of buying those at those low price values. Now the chances are there and people don’t dare to make the decision. Typical.”<\/p><\/blockquote>\n On the weekly basis, the altcoin market cap was up $37 billion over the week, set for its first green candle since March.<\/p>\n The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/bc48ff16-6065-429f-adb3-85a58bf2ad92.png\")
S&P 500 sees second best week of 2022<\/h2>\n
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Altcoins set for first green week since March<\/h2>\n
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