Bitcoin price bottom not in, data says as whale orders hit 2-year low

In social media posts after Christmas, on-chain analytics resource Material Indicators flagged waning interest in protecting the current BTC price range.With volatility still largely absent from Bitcoin markets, analysts are keenly eyeing what could happen at this week’s yearly close.

The closing price for BTC/USD on Dec. 31 will also mark the conclusion of the weekly and quarterly candles, and any flash volatility could turn 2022 into a nightmarish bear market year., the pair is currently down around 60% year-to-date, while versus its latest all-time high from November 2021, it has lost 76%.

This may still not be enough to cap the bear market, various analysts have warned, and now, order book data appears to underscore the potential for fresh losses. “Nothing illustrates sentiment for a price level like liquidity, and there does not appear to be much sentiment for this price level being the bottom,” Material IndicatorsBTC/USD order book chart . Source: Material Indicators/ Twitterthat there was not “much to be excited about” given current order book volumes, these also showing large-volume traders reducing exposure.

Last dump at January and then pump.

BTC/USD is currently down around 60% year-to-date, while it has lost 76% versus its latest all-time high from November 2021.

Well I wouldn't mind buying bitcoin with usdt at a discount

Well, so far I'm still sure about bitcoin

Buy now. This will be the right decision in any case.

Welcome to huobi global

It will probably keep falling. I expect 14k pretty soon.

It will keep falling because there are no reasons for it to go down. The recession is still here.

9800$oon

focus on long term picture

Really doesn’t matter if we will think where it will reach in 2-3 years time.

Lol… it’s quiet so must be bad… lol

Going further down.

If you’re waiting for the final dip know that most of you won’t get your orders filled and you’ll be scrambling to buy at this price

MI_Algos No problem, I'll just dump more usdt into bitcoin

MI_Algos While Bitcoin is finding support, $RLC is breaking resistance ⚡️⚡️ $RLC is just surprising analysts 😍😍

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