• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
Bitcoin BTC Price BTCUSDT

Crypto Market Setting Up For “Squeeze Of Historic Proportions”, Will BTC Price Get In The Way?

Reynaldo Marquez by Reynaldo Marquez
7 months ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

Bitcoin is showing weakness as BTC price trades in a tight range, the number one crypto by market cap saw a small uptick in volatility during today’s trading session. However, the price action was smothered by poor performance in traditional equities.

Related Reading: CAKE Sets Sights For $5 After More Than 7 Million Tokens Are Sent To A Fiery Death

At the time of writing, BTC price trades at $19,00 with a 4% loss in the last 24 hours and a 3% loss over the past week. As Bitcoin trends lower into support, the momentum indicator follows suggesting there is little conviction to resume bullish momentum.

Bitcoin BTC Price BTC BTCUSDT 1
BTC’s price trends lower on the 4-hour chart, heading into yearly lows? Source: BTCUSDT Tradingview

BTC Price Liquidity Trends To The Downside As Bitcoin Loses $19,000 Levels

In the coming two weeks, the crypto market will go through a major milestone with Ethereum’s “Merge”. The second crypto by market cap will complete its transition to a Proof-of-Stake (PoS) consensus. As a result, ETH price has been outperforming BTC price.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

“The Merge” is scheduled for mainnet deployment between September 13th to 15th, this event is bound to bring volatility into the market. Today, Ethereum core developers announced the successful implementation of the “Bellatrix” update.

A few hours later, the BTC price broke below a critical support zone and trendline created since the August bullish price action. Data from Material Indicators shows liquidity in the orderbook for crypto exchange Binance has been getting thick to the downside.

As the price of Bitcoin trends lower, liquidity followed and sits near the cryptocurrency’s yearly lows between $17,600 to $18,000. In the meantime, all investors class have been selling into the price action, from retail to large investors.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Bitcoin BTC Price BTCUSDT
BTC price (blue line on the chart) moving into downside liquidity on low timeframes. Source: Material Indicators

If today is any indicator of what traders should expect from “The Merge”, and bulls can support BTC price’s current levels, the cryptocurrency might take another leg down into the pool of bids shown in the chart above. Next critical support levels sit at $17,000 and $16,000.

For a deeper dive into “The Merge” and its potential implications for the price of Ethereum, check out the analysis from our Editorial Director Tony Spilotro.

Institutions Go Short, BTC Price Doom To Re-Test Yearly Lows?

The second major catalyst for the crypto market will take place during “The Merge”, the U.S. will publish its most recent Consumer Price Index (CPI) that will provide more clues into the country’s inflation. As NewsBTC has been reporting, the U.S. Federal Reserve (Fed) has been aggressively trying to keep inflation in check by hiking interest rates.

As a consequence, risk-on markets have been trending lower. If the September 12th CPI print maintains its July trend to the downside, the Fed might hint at some relief on its monetary policy. This could allow the BTC price and other cryptocurrencies to regain their bullish momentum.

Related Reading: Bitcoin Diamond Hands: Long-Term Holder Supply Surges Up To Near ATH

In a recent report trading desk QCP Capital noted a reduction of long positions (blue line in the chart below) by institutions as they increase their shorts (purple line below). This hints at what these entities expect for the short term. The trading desk said:

The showdown between macroeconomic conditions and market positioning will come as soon as September determining whether bearish macro forces play out as the market hopes, or whether we are setting ourselves up for a squeeze of historic proportions.

Bitcoin BTC Price BTCUSDT 3
Institutions going short as shown by the purple line below. Source: QCP Capital
Tags: bitcoinbtcBTCUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

Bitcoin

Bitcoin Price Action Mirrors Q1 2021, Volatility Ahead?

23 hours ago
Bitcoin

Bitcoin Coinbase Premium Continues To Decline, Buying Pressure Ending?

1 day ago
Bitcoin

Quant Explains How Bitcoin ‘ESR’ Can Act As Leading Indicator For Price

1 day ago
Bitcoin US Government

Bitcoin Will Be Stronger Despite Attacks From the US, Says HRF’s Executive

1 day ago
Bitcoin bull case

3 Reasons To Remain Bullish On Bitcoin In Coming Months

1 day ago
Bitcoin

Bitcoin Liquidity Crisis Gets Worse, Here’s What It Means For Price

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

ShibaLauncher: First Community Driven Launchpad on Shibarium Opens Token Pre Sale To SHIB Holders

March 25, 2023

As the competition in the derivatives market heats up, BitMake is poised to stand out

March 25, 2023

BNB (BNB) Stagnates, Collateral Network (COLT) Presale Takes Off, And Avalanche (AVAX) Loses Ground

March 25, 2023

Don’t Be Slow! TMS Network’s (TMSN) Presale Is Selling Out Fast As Aptos (APT) And Avalanche (AVAX) Fall To A New Low

March 25, 2023

IBC Group Incubates Chirpley, Pioneering a New Era of Digital Marketing with Nano-Micro Influencer Marketplace

March 25, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.