Bitcoin stays put with yearly close set to seal 60% YTD BTC price loss

bitcoin (BTC) kept traders guessing until the last minute on the 2022 annual close, as volatility remained absent from the market.

BTC Price: Where's the Volatility?

Data of Cointelegraph Pro Markets Y TradingView it showed BTC/USD holding on to a familiar area around $16,500.

The pair continued to disappoint players on both sides of the trade after a oblique Christmas, ignoring the potential importance of the simultaneous closing of weekly, monthly, quarterly and yearly candles.

“Technical resistance and overhead liquidity suggest a local high below $17k, but anything goes in the Wild West,” On-Chain Analysis Resources Material Indicators wrote in part of the commentary on the Binance BTC/USD order book.

Nonetheless, an accompanying chart showed a lack of significant support above $16,000, with resistance overhead at $17,000.

Looking a little past the close, Arthur Hayes, former CEO of the BitMEX exchange, had hoped that Bitcoin would not dip below its post-FTX floor around $15,500.

“If $BTC can hold the FTX lows, that's a positive. Let's see what the new year brings”, part of the comments. fixed as part of a warning about the liquidity of the US dollar.

More adamant when it came to bearish forecasts was popular trader Cypto Tony, who doubled his existing theory that additional downside would precede Bitcoin's recovery.

“This is still my macro outlook on Bitcoin where we see another pullback to the downside before accumulation ahead of the next bull run,” he said. saying Twitter followers.

Bitcoin dominance due to boost in January

Meanwhile, a small dose of good news for BTC bulls came from Toni Ghinea, who on Dec. 30 noted a rising trend of crypto market cap dominance.

Related: 'Crypto Winter' Won't End in 2023: Bitcoin Advocate David Marcus

Despite also calling for a new downside to affect Bitcoin price action, Ghinea now said that it would be altcoins that would bear the brunt of the angst.

“BTC Dominance will rise in the coming weeks. More pain ahead for alts,” he said. tweeted December 30th.

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