Weekly Recap
Last week was marked by a corrective background and a narrow $BTC range of $83,000–$85,000. All week long, any local growth was harshly stifled by active selling. Sellers are aggressively placing sell walls during momentum attempts, while real demand remains weak — all the spikes we observed were driven purely by short liquidations.
Momentum in the ETF sector has also slowed down: buying volumes dropped, and we saw fairly large outflows. My current thoughts are as follows: even if they push the price above $85,000 in the moment, holding above that level for long will be extremely difficult for now.
The market is squeezed from both sides, and entering active positions right now is quite dangerous. Alts remain practically untradeable until BTC finishes its move and determines a clear direction.
Last week was marked by a corrective background and a narrow $BTC range of $83,000–$85,000. All week long, any local growth was harshly stifled by active selling. Sellers are aggressively placing sell walls during momentum attempts, while real demand remains weak — all the spikes we observed were driven purely by short liquidations.
Momentum in the ETF sector has also slowed down: buying volumes dropped, and we saw fairly large outflows. My current thoughts are as follows: even if they push the price above $85,000 in the moment, holding above that level for long will be extremely difficult for now.
The market is squeezed from both sides, and entering active positions right now is quite dangerous. Alts remain practically untradeable until BTC finishes its move and determines a clear direction.