Bitcoin’s Weekly Closing Target Exceeds $108,300

Important points

• According to analysis, Bitcoin will be able to maintain the bullish market if the price reaches $108,400 over the next 24 hours.

• As the order book becomes thinner, volatility rises as we approach the end of each week.

• Altcoin Futures shows how much traders have suffered since the bear market’s bottom.

BitcoinBTCAs the price neared a critical reclaim threshold, he teased volatility in Sunday’s close.

BTC volatility is expected to increase, according to traders

The Data of Cointelegraph Markets Pro The following are some examples of how to get started: TradingView BTC/USD hit a new local high of $108,260.

What happens after a? painful end to the TradFi trading week X Trader Daan Crypto trades called The following are some of the ways to get in touch with each other: “interesting week.”

“Volatility definitely high here due to the thin books post this massive market flush,” He wrote.

Looking at liquidation data, Daan Crypto Trades predicted The volatility will continue “for a while.”

“Books are thin. Especially after the massive liquidation event last week,” He added. 

“This combined with weekend price action and a lot of emotional traders makes for relatively volatile moves on low timeframes.”

Monitoring resource: The latest statistics CoinGlass The total amount of cryptoliquidations in the last 24 hours, at the time this article was written, is more than 200 million dollars.

The liquidity of the exchange order book increased in both bid and asked prices hours before its weekly closing.

“Bitcoin is not far away from securing a positive Weekly Close above $108381 to preserve the historical Weekly demand area (orange), despite the downside wicks below it,” Rekt capital is a trader, analyst and broker. said Upload the weekly chart into X.

Altcoin Futures Explain the Grim Crypto Sentiment

It was not necessary to wait for further drops in the crypto markets sentiment before they recovered. “extreme fear” Data from zone Crypto Fear & Greed Index.

Related: Bitcoin price ‘lines up nicely’ for $95K drop next despite bullish RSI data

It was up seven points compared to the six-month lowest level seen just days earlier.

Luke Martin, the host of STACKS Podcast, who is a crypto trader/analyst, said that altcoins are dragging down the market.

Then, you can also find out more about the following: X post Martin published a chart Saturday that shows the performance of Binance’s top 50 alternative coins. Chris Jack, Chief Growth Officer of Robuxio’s algorithmic crypto trading platform created the chart.

“This chart perfectly illustrates why sentiment is bearish/tired even though $BTC still above $100k,” He was arguing.

“A basket of the top 50 altcoins now trading BELOW where they were post-FTX crash in 2022.”

Martin made reference to the implosion of crypto exchange FTXThe infamously precipitated a massive market drop and prepared the crypto market for its bear-market bottom by 2022.

This article contains no investment recommendations or advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.