ביטקאָין פּרייַז נירז 3-וואָך הויך ווי טריידער זאגט אַז סאַב-7% קפּי קען זען $ 19K

ביטקאָין (בטק) traded nearer $17,000 on Jan. 7 after the end of the year’s first trading week delivered a spike higher.

אַלע אויגן אויף קפּי

דאַטן פון קאָינטעלעגראַף מאַרקעץ פּראָ און TradingView followed BTC/USD as it briefly passed the $17,000 mark the day prior.

די פּאָר האט געזען flash volatility on the back of fresh economic data from the United States, this nonetheless fading to leave the key level “unflipped” as resistance.

Nonetheless, the brief uptick delivered Bitcoin’s highest price point since Dec. 20, 2022.

Reacting, market participants continued to look to next week’s Consumer Price Index (CPI) print as a key potential catalyst for risk assets.

“Unemployment will rally in the coming months. Yields will fall of a cliff if CPI is low,” Michaël van de Poppe, founder and CEO of trading firm Eight, געשריבן in part of a summary tweet on Jan. 6.

“Relief rally is close.”

“Finally looks like BTC is ready to break out of the $16K – $17K base range it’s been stuck in the past several weeks. Initiate the squeeze,” hopeful trader Kaleo געצויגן.

Should the CPI data show inflation decreasing quicker than expected, meanwhile, it could provide fuel for a trip to multi-month highs near $19,000, futures trader Satoshi Flipper צוגעגעבן.

Data reveals extent of on-chain losses

Zooming out, fellow trader and analyst Rekt Capital joined the גראָוינג קאָנסענסוס over the current narrow trading range on BTC/USD forming the next macro bottom zone.

פֿאַרבונדענע: $ 16.8K ביטקאָין איצט טריידז ווייַטער אונטער דעם שליסל טרענדליין ווי אלץ

“The current BTC price action will likely figure as an important cluster in the formation of the Bear Market bottom Accumulation Range,” he באשלאסן.

In a further demonstration of the pain already being endured by hodlers, on-chain analytics firm Glassnode showed that Bitcoin has seen its second-largest realized cap drawdown.

Realized cap describes the aggregate price at which the BTC supply last moved, and its decrease reflects realized losses from selling.

“The 2022-23 Bitcoin Bear Market has seen the Realized cap drawdown by -18.8%, the second largest in history, and eclipsed only by the pico-bottom of the 2011 bear,” Checkmate, Glassnode’s lead on-chain analyst, קאַמענטאַד צוזאמען אַ טשאַרט. 

“Investors have weathered a total of $88 Billion in Net Realized losses.”

די מיינונגען, געדאנקען און מיינונגען אויסגעדריקט דאָ זענען די מחברים 'אַליין און טאָן ניט דאַווקע פאַרטראַכטן אָדער רעפּראַזענץ די מיינונגען און מיינונגען פון קאָינטעלעגראַף.