{"id":39860,"date":"2023-01-01T01:53:58","date_gmt":"2023-01-01T01:53:58","guid":{"rendered":"https:\/\/egrowonline.com\/?p=39860"},"modified":"2023-01-01T01:53:58","modified_gmt":"2023-01-01T01:53:58","slug":"bitcoin-stays-put-with-yearly-close-set-to-seal-60-ytd-btc-price-loss","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=39860","title":{"rendered":"Bitcoin stays put with yearly close set to seal 60% YTD BTC price loss"},"content":{"rendered":"


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Bitcoin (BTC<\/a>) kept traders guessing to the last minute into the 2022 yearly close as volatility remained absent from the market.<\/p>\n

BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n

BTC price: Where’s the volatility?<\/h2>\n

Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD clinging to a familiar area around $16,500.<\/p>\n

The pair continued to disappoint players on both sides of the trade after a sideways<\/a> Christmas, ignoring the potential significance of the simultaneous weekly, monthly, quarterly and yearly candle close.<\/p>\n

\u201cTechnical resistance and overhead liquidity suggests sub $17k local top, but anything goes in the Wild Wild West,\u201d on-chain analytics resource Material Indicators wrote<\/a> in part of commentary on the Binance BTC\/USD order book.<\/p>\n

An accompanying chart nonetheless showed a lack of significant support above $16,000, with resistance overhead at $17,000.<\/p>\n

BTC\/USD order book data (Binance). Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n

Looking slightly beyond the close, Arthur Hayes, former CEO of exchange BitMEX, hoped that Bitcoin would not fall under its post-FTX floor around $15,500.<\/p>\n

\u201cIf $BTC can hold FTX lows that\u2019s positive. Let\u2019s see what the new year brings,\u201d part of comments stated<\/a> as part of a warning over U.S. dollar liquidity.<\/p>\n

More categorical when it came to bearish forecasts was popular trader Cypto Tony, who doubled down on his existing theory<\/a> that further downside would precede Bitcoin\u2019s recovery.<\/p>\n

\u201cThis remains my macro outlook on Bitcoin where we see another pullback lower before accumulation prior to the next bull run,\u201d he told<\/a> Twitter followers.<\/p>\n

BTC\/USD annotated chart. Source: Crypto Tony\/ Twitter<\/em><\/figcaption><\/figure>\n

Bitcoin dominance due a January boost<\/h2>\n

One small dose of good news for BTC bulls meanwhile came from Toni Ghinea, who on Dec. 30 eyed an increasing crypto market cap dominance trend.<\/p>\n

Related:\u00a0‘Crypto winter’ won’t end in 2023 \u2014 Bitcoin advocate David Marcus<\/a><\/em><\/strong><\/p>\n

Despite also calling for fresh downside to afflict Bitcoin price action, Ghinea now said that it would be altcoins bearing the brunt of the anguish.<\/p>\n

“BTC Dominance will push up in the next weeks. More pain for alts. is coming,” he tweeted<\/a> on Dec. 30.<\/p>\n

Bitcoin market cap dominance annotated chart. Source: Toni Ghinea\/ Twitter<\/em><\/figcaption><\/figure>\n

The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) kept traders guessing to the last minute into the 2022 yearly close as volatility remained absent from the market. BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView BTC price: Where’s the volatility? Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD clinging to a familiar area around $16,500. The pair continued to disappoint players […]<\/p>\n","protected":false},"author":1,"featured_media":39861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[50,194,752,4636,195,1352,8215,423,3782,2090,11740],"class_list":["post-39860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-btc","tag-close","tag-loss","tag-price","tag-put","tag-seal","tag-set","tag-stays","tag-yearly","tag-ytd"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/0e26b888-186d-403f-b044-b4730f59c939.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39860"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39860\/revisions"}],"predecessor-version":[{"id":39862,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39860\/revisions\/39862"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/39861"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39860"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}