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Cryptocoin. com, Bitcoin (BTC) started the new week under $ 45,000 and is trading at $ 44, 365. BTC seems to have erased most of its recent recovery efforts, for now. The one-week situation of the BTC / USD parity is in the form of a loss of 14.2%. So, what will happen in BTC price this week, what developments will affect the price?

The expectation that the stock markets will recover may positively affect the Bitcoin price

While a red week is behind in cryptos as well as stocks, the expectations are that the stockdollar series will recover. “We expect the series of stocks to bounce back this week and provide some relief for Bitcoin,” said Charles Edwards, CEO of investment manager Capriole. It is thought that a strong series of stocks could keep the strength of the US dollar in check, which will give BTC more room to breathe.

Price drops below bullish metrics: What does Analisdollarser say?

There was a huge disparity between on-chain metrics, adoption and price, as spot traders risked their bets further down. Lex Moskovski, CEO of Moskovski Capital, said, “Stablecoin liquidity is increasing, Bitcoin on exchanges has reached a 3-year low. If the macro developments do not deteriorate the situation, the next rise is scheduled,” he said.

https://twitter. com/mskvsk/status/1437301856250875906

Moskovski later added that macro markets did indeed start the week in the green, and stablecoins not used as short-term collateral constitute a clear bullish argument. Meanwhile, Lark Davis said that BTC could still reach $100,000 in the fourth quarter. However, senior trader Peter Brandt is alarming. Brandt shared a bearish chart.

Filbfilb: Bitcoin dances with 2017

Despite the recent price action, it’s still not all bad, says Decentrader’s Filbfilb. “We’re dancing with 2017 right now,” Decentrader analyst Filbfilb said in comments over the weekend. He pointed to Decentrader data showing that BTC/USD is still on track after halving in 2020. “We’re dancing with 2017 right now,” Decentrader analyst Filbfilb said in comments over the weekend.

Monthly illiquid supply hits all-time high

According to statistician Willy Woo, every class of Bitcoin investors have either increased their positions or remained neutral due to the recent series of price movements. “Whales have been added recently. Miners continue to stockpile. 10-1000 BTC holders mostly stayed the same,” he explained. “Publicly held reserves are declining (mainly exchanges and ETFs are falling as companies add to their holdings),” he said.

Crypto market in fear again

The drop in Bitcoin price has lowered the crypto fear and greed index from extreme greed to fear. At the time of writing, Fear & Greed is at 44/100. So, it’s still in the “fear” zone. Meanwhile, BTC/USD is trading below $45,000.


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Michael Lewis

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