Bitcoin’s Weekly Closing Target Exceeds $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 coming days.

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

• 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 Price Volatility to Continue, says Trader

The Data of Cointelegraph Markets Pro You can also find out more about the following: 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 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 has written.

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.”

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” Zone, according to data from 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 low recorded days earlier.

Luke Martin of STACKS, a crypto analyst and trader, commented that altcoins were a big drag on overall market sentiment.

It is a good idea to get in touch with someone who can help you. X post Martin posted a chart on Saturday showing Binance’s 50 top altcoins futures. 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 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.