Bitcoin (BTC) starts a new week above $20,000 but heading for a new bearish record as a key support level remains out of reach.
After a calm weekend punctuated by a brief spike to nearly $22,000, BTC/USD is back near the closing price of June 24 for CME futures markets.
A “round trip” thus allows traders to pick up where they left off at the end of last week’s final Wall Street trading session, but what could lie in store in the coming days?
A familiar cocktail of macro threats and ongoing bearish tendencies make the current climate far from ideal for the average hodler. Despite seeing some relief last week, crypto markets continue to bear the brunt of cold feet, which have defined macro sentiment increasingly throughout 2022.
With the June monthly close fast approaching, meanwhile, Bitcoin faces a few days of reckoning amid what could be its worst monthly performance since 2018.
Cointelegraph takes a look at five potential market triggers for the week ahead as inflation rages, and crypto struggles to regain its footing.
Traders expect July to provide BTC price “catalysts”
“Apathetic” is a good word to describe the general sense of resignation among Bitcoin traders this week.
While the weekend spared the average hodler more unwelcome surprises, data from Cointelegraph Markets Pro and TradingView shows the fact remains that BTC/USD is far from where anyone wants it to be — even in a bear market.
With the key 200-week moving average (WMA) out of reach, there is a precious little bullish sentiment out there, as evidenced by the “extreme fear” of the Crypto Fear & Greed Index still firmly in control.