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

Key Indicator Says Bitcoin’s Momentum Is Weakening: Where Will BTC Head?

Nick Chong
Nick Chong
1 year ago
3 mins read
bitcoin price

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 been stuck in the $9,000s for the past two months, trading between $8,500 and $10,000 for weeks on end.

While the cryptocurrency has maintained the $8,500 support level on multiple occasions, a key indicator shows that the bullish momentum is weakening.

Related Reading: Crypto Tidbits: BTC At $9k, Grayscale Ethereum Trust, Cryptocurrency & PayPal

Bitcoin Has “Weakening” Bullish Momentum: Analyst

According to Brave New Coin analyst Josh Olszewicz, the Ichimoku Cloud indicator shows that Bitcoin has “weakening bullish momentum” due to the consolidation:

“Cloud still shows weakening bullish momentum. If you are bearish, you want an e2e to 7.1. If you are bullish, you want a TK cross recross above Cloud  with a $13k target.”

Olszewicz added that he thinks BTC is currently in an “awkward spot” that is disallowing him from taking “either position with conviction.”

Image

One-day BTC price chart with Ichimoku Cloud. Chart from TradingView.com; chart made by Josh Olszewicz (@CarpeNoctum on Twitter).

Two Factors Could Upset the Bitcoin Bull Case

Olszewicz is indicating that per his technical analysis, Bitcoin is trapped in no man’s land. Fundamentals, instead, may give insight into which way the cryptocurrency will head next.

Although there has been increased “HODLing” by Bitcoin investors, there are three factors that threaten to send BTC lower:

  • Selling by miners: On-chain analyst Cole Garner reported last week that miners have withdrawn a large amount of Bitcoin to exchanges. This implies that miners want to liquidate a portion of their holdings as soon as possible due to potential downside.
  • Selling by PlusToken: Spencer Noon reported that more than $450 million worth of Ethereum, EOS, Bitcoin, and XRP have moved from PlusToken-owned addresses. Other analysts have reported that some of the funds are slowly being siphoned into exchanges, presumably to be liquidated.
  • A dropping S&P 500: Finally, a retracement in the S&P 500 could lead to a retracement in the price of Bitcoin. This is due to a correlation that has formed between the asset classes, which has been observed by JPMorgan and Goldman Sachs analysts. Guggenheim Investments’ global CIO Scott Minerd and Jeremy Grantham are among the analysts expecting a strong move lower in the S&P 500.
Related Reading: Uber & Robinhood Angel Investor: 99% of Crypto Projects Are Garbage

CME Traders Bet on Downside

Importantly, institutional investors trading the CME’s Bitcoin futures expect a move to the downside.

As reported by NewsBTC previously, CME futures data shows that institutions have cumulatively been building a net short position. One trader shared the image below, which shows that accounts with the tag “institutional traders” are cumulatively shorting 2,038 of the CME’s BTC futures contracts.

Image

BTC price chart with CME's Commitment of Traders report data. Chart from TradingView.com; made by Byzantine General (@Byzgeneral on Twitter).
Featured Image from Shutterstock
Price tags: xbtusd, btcusdt, btcusd
Key Indicator Says BTC's Momentum Is Weakening: Where Will BTC Head?
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

Strategy

Bitcoin Shopping Spree: Strategy Continues Accumulation With $530M Purchase

Strategy (previously MicroStrategy), the leading corporate holder of Bitcoin (BTC), is on the verge of reaching a significant milestone as...

Ronaldo Marquez 2 hours ago

Labākās kriptovalūtas, ko iegādāties jūlijā – nākamie kriptovalūtas dārgakmeņi

Kriptovalūtu tirgus atgūstas, un ar jūlija iestāšanos pieaug interese par kriptovalūtām. Šīs digitālās valūtas, sākotnēji radītas kā joks, tagad kļuvušas...

lasma 3 hours ago
Ethereum price news

Ethereum Just Got Its MicroStrategy—Tom Lee Bets On Soaring ETH Price

Nearly three years after the Merge formally switched Ethereum to proof-of-stake on 15 September 2022, a publicly listed Bitcoin miner...

Jake Simmons 4 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

如何購買TOKEN6900($T6900)  為何這枚迷因幣將全面取代SPX6900

Mark Mak 13 minutes ago
BitMine

BitMine Stock Soars 700% After $250 Million Raise For Ethereum Treasury

Ronaldo Marquez 38 minutes ago

Saylor (Strategy): Acquisto Bitcoin da 530 Milioni di Dollari

clararosati 1 hour ago

Premium Sponsors

Press Releases

  • 今が狙い目の割安アルトコイン特集|注目すべき銘柄をチェック!

    ...

    13 minutes ago
  • 仮想通貨プレセール終了間近|上場価格で購入できる最後の7日間がスタート

    ...

    28 minutes ago
  • From traditional mining to smart contract mining, XRP...

    39 minutes ago
  • 初の国家デジタル通貨銀行で銀行業界が新時代へ:今買うべき仮想通貨おすすめとは?

    ...

    44 minutes ago
  • 新しい仮想通貨プレセール開始|次世代の革新的ミームコインが登場か?

    ...

    57 minutes 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.