"The bitcoin price hovered below $90,000 near $80,000 today as traders made another late push to recover year-end losses during thin holiday trading, but the market again lacked the conviction needed for a sustained breakout. The bitcoin price stood at $88,063 at the time of writing, up about 1% over the past 24 hours, according to market data. Trading volume totaled roughly $40 billion, reflecting muted participation as December draws to a close."
"Bitcoin pushed toward the $90,000 level yesterday for a second straight session before the rally stalled once again. Price action remains confined to a broad range between roughly $85,000 and $95,000, a structure that has defined the market since a sharp October sell-off. That drawdown followed Bitcoin's all-time high in early October, when prices were up nearly 30% on the year."
"Since then, sentiment has shifted. The bitcoin price is now down about 5% from last December, putting it on track for its first annual loss in three years. 'I'd continue to expect exaggerated moves on light flow through New Year's,' Jasper De Maere, desk strategist at Wintermute, said in a note to Bloomberg.. He cautioned traders against relying too heavily on short-term signals until liquidity returns to normal levels."
Bitcoin traded around $88,063, up about 1% over 24 hours, with trading volume near $40 billion and muted participation as December ends. Price action has been confined to a broad $85,000–$95,000 range since a sharp October sell-off that followed an early-October all-time high. Circulating supply stands at 19,969,296 BTC with a 21 million hard cap and a market capitalization near $1.76 trillion. Bitcoin is about 5% below its level from last December and is on track for its first annual loss in three years. Thin holiday liquidity produced exaggerated moves and limited breakout conviction.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]