In this installment we will continue to infer on what the next move Bitcoin price action will execute, this if we take into consideration that there is a lot of hermeticism regarding the stagnation that the price action has developed between the $63,000 and $65,000 level since Halving.
What is certain is that according to William Suberg, "A stubborn trading range held power over the market amid troubling macroeconomic data and weak U.S. spot Bitcoin exchange-traded fund (ETF) performance."
It has been noted that, "Amid a lackluster environment in the cryptocurrency sector, some market participants began to suggest that a general Bitcoin price trend could remain absent for a longer period"
However, in his latest analysis in X, Michaël van de Poppe, founder and CEO of trading firm MNTrading, argued that altcoins would diverge significantly to deliver long-awaited gains.
An interesting tidbit is that, "Bitcoin's dominance in the global cryptocurrency market stood at around 55% on the day, having declined after reaching a high of 57% - its highest level in two years - on April 13"
SOURCES CONSULTED
Cointelegraph. Bitcoin entering most likely 2 weeks for new BTC price dip — Analysis. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
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