Bitcoin price bottom not in, data says as whale orders hit 2-year low
A lack of excitement on order books is just one sign that downside volatility could easily resume, says Material Indicators. Bitcoin (BTC) is not about to bottom at just below $17,000, new analysis warns as bid liquidity dries up. In social media posts after Christmas, on-chain analytics resource Material Indicators flagged waning interest in protecting the current BTC price range. Binance order book leaves "not much to be excited about" With volatility still largely absent from Bitcoin markets, analysts are keenly eyeing what could happen at this week’s yearly close. The closing price for BTC/USD on Dec. 31 will also m Ark the conclusion of the weekly and quarterly candles, and any flash volatility could turn 2022 into a nightmarish bear market year. As Cointelegraph reported, the pair is currently down around 60% year-to-date, while versus its latest all-time high from November 2021, it has lost 76%. This may still not be enough to cap the bear market, various analysts ha...