Bitcoin has a new weekly close target above $108,300

Important points

• According to analysis, Bitcoin will be able to maintain the bullish market range as long as it recovers the $108,400 mark in the next 24 hours.

• The volatility increases as the week closes, with thin order books resulting in $200 million of liquidations within 24 hours.

• Altcoin futures reveal how investors have been disadvantaged since the previous bear market.

BitcoinBTC() teased volatile volatility into the Sunday weekly close, as price approached an important reclaim point.

BTC Price Volatility to Continue, says Trader

The Data of Cointelegraph Markets Pro You can also find out more about the following: TradingView BTC/USD reached a local record of $108,260.

What happens after a? painful end to the TradFi trading week X Trades Daan Crypto Tradings called You can find out more about this by clicking here. “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 also added. 

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

Latest figures on monitoring resources CoinGlass Total crypto-liquidations during the past 24 hours are more than $200 Million.

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 While uploading the Weekly Chart to 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 on 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.

It is a good idea to get in touch with someone who can help you. X post Martin published a chart Saturday that shows the performance of Binance’s top 50 alternative coins. Chris Jack is the chief growth officer at Robuxio, a crypto-algorithmic trading firm.

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

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

Martin was referring to the implosion of crypto exchange FTXThis infamously caused a significant market decline and helped prepare crypto to reach its bottom in the bear market at the end 2022.

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.