Bitcoin price stuck below $29K as Terra LUNA comes back from the dead
The launch of the new LUNA mainnet comes as problems persist for other well-known altcoins.
Auto Added by WPeMatico
The launch of the new LUNA mainnet comes as problems persist for other well-known altcoins.
Volatility is primed to return after upside above $29,000 fails to become an enduring trend.
Amid distribution by the "giant" whales of Bitcoin, data shows that smaller ones are still resisting the urge to sell.
A wick to $28,000 sparks hopes of multi-week highs but caution remains over thin order book liquidity.
Low transaction activity is gathering importance as analysts forecast volatility returning.
On-chain indicators focusing on Bitcoin's fair valuation and long-term holders' sentiment also raise its prospects of bottoming out.
An uptick to two-week highs is on the cards but longer timeframes still trouble Bitcoin analysis.
BTC price action remains at the mercy of equities performance at the Wall Street open.
Don't hold your breath for a return to $69,000 this year or next, one commentator says.
Bitcoin is getting a dose of reality this week as the World Economic Forum convenes and analysts still favor a fresh BTC price drop.