NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

This Textbook Distribution Analyst Says Bitcoin Could Dive Under $7,000

Nick Chong
Nick Chong
1 year ago
2 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has spent the last two months trading in a tight range between $8,500 and $10,000. Prices have barely deviated from these boundaries, save for minor deviations that were quickly corrected.

Some say that this consolidation is a “launchpad” for the bull market. Yet the argument that Bitcoin’s recent price action is the cryptocurrency topping recently gained strength with a new analysis.

Related Reading: U.S. Congressman Davidson Says Bitcoin Is “Required to Defend Freedom”

Bitcoin Prints “Major” Warning Signs as Price Falters

Over the past few weeks, there have been many analysts drawing lines between Bitcoin’s recent price action and textbook distribution patterns. While BTC is an asset that often moves irrationality, it still abides by the rules of technical analysis, they suggest.

One trader recently shared the chart below, showing that there are a “couple more clues” suggesting high time frame distribution:

“A couple more clues developing that lend themselves to HTF distribution. 1. Rising Demand on the verge of failing. 2. Side by side, ascent vs descent with selling the dominant pressure from volume.”

His analysis led him to the conclusion that a drop under $7,000 could take place. He went as far as to say that a move “much lower” than that pivotal level may take place.
ImageBitcoin distribution analysis shared by trader “Cold Blooded Shiller” (@Coldbloodshill on Twitter). Chart from TradingView.com

Related Reading: If Bitcoin Traders Short Here, They Have “Terrible Odds” Of Making Money: Analyst

Far From the Only Sign

Other indicators and metrics also suggest an imminent decline in the crypto market.

Bloomberg reported on June 22nd that the Bloomberg Galaxy Crypto Index is “stuck in a negative trend” after experiencing a rejection at 400. The Index is a basket of BTC and top altcoins, such as Ethereum, Litecoin, and XRP, created by Bloomberg and Galaxy Digital.

Bloomberg came to this conclusion by evaluating the “DVAN Buying and Selling Pressure Indicator,” which suggests BTC remains in a bear trend.

On-chain analyst Cole Garner also identified three reasons why Bitcoin’s “next big move is likely down.” They are as follows:

  • Blockchain analytics firm has registered massive transfer of BTC from miner-owned addresses to exchanges. This suggests miners will soon liquidate their coins as they see more downside in the future.
  • As per CME futures data, institutional traders are still net short on Bitcoin. This group of investors has called bearish price action in the past by increasing their shorts.
  • Bitfinex’s order book data suggests there’s been decreased buying and increased selling, supportive of a price decline. Specifically, the “delta” of the order book has purportedly been skewed negative, something last seen prior to declines over the past few months.

1/ I am massively bullish on #Bitcoin, but I think the next big move is likely down.@glassnode just reported the largest $BTC transfer from miners to exchanges in over a year. pic.twitter.com/Uwj4hHveyx

— Cole Garner (@ColeGarnersTake) June 24, 2020

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
This Textbook Distribution Analyst Says Bitcoin Could Dive Under $7,000
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin price news

Bitcoin Seasonality: Why Summer 2025 Will Catch Everyone Off Guard

A growing number of Bitcoin and crypto market participants have fallen victim to a dangerous assumption: that summer in the...

Jake Simmons 1 hour ago

Solaxy登陸MEXC及多家中心化交易所 24小時內暴漲127%!

Solana 生態首個 Layer-2 公鏈專案Solaxy (SOLX)在過去 24 小時內暴漲逾 127%,漲勢由其正式登陸全球頂級交易所之一 MEXC的消息引爆。 Solaxy 於上月完成超 5...

estherw 1 hour ago
Dogecoin koers geprogrammeerd voor nieuwe all-time high - gaat DOGE naar 1 dollar dit jaar?

Dogecoin koers geprogrammeerd voor nieuwe all-time high – gaat DOGE naar 1 dollar dit jaar?

De Dogecoin koers heeft sinds zijn piek van december 2024 een daling ervaren van bijna 70%. Dat heeft een situatie...

Lars Diederiksen 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Beste crypto ETF's 2025 - welke nieuwe ETF goedkeuringen komen deze zomer?

Beste crypto ETF’s 2025 – welke nieuwe ETF goedkeuringen komen deze zomer?

Lars Diederiksen 40 minutes ago
Strategy

Michael Saylor’s Strategy Set To Yield $14 Billion Profit In Q2, Bloomberg

Ronaldo Marquez 54 minutes ago

Solana (SOL) a un Bivio — Rimbalzo Probabile se i 142$ Tengono

clararosati 1 hour ago

Premium Sponsors

Press Releases

  • Urgent Notice! ETHRANSACTION cloud mining revenue surges...

    25 minutes ago
  • Fartcoin Đã Quá Trễ Để Mua Ở Mức Vốn Hóa $1...

    2 hours ago
  • 2025년 솔라나 밈코인 추천 - 솔라나 밈코인 순위 TOP 4

    Các Đồng Coin Tiềm Năng Sẽ Bùng Nổ Đầu Quý...

    2 hours ago
  • A legjobb kriptovalutákat keresed 2025-re? Íme 4 top választás a portfóliódhoz

    A legjobb kriptovalutákat keresed 2025-re? Íme 4 top...

    3 hours ago
  • Best Crypto to Buy Now as Crypto Market Shifts Bullish. Could Altcoins Rally?

    Các Altcoin Đang Giảm Giá Nên Mua Ngay: XRP...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.