Skip to main content

Bitcoin range tightens in weekend trading as wholesale punters remain absent

Since my last update here on Bitcoin, the lead cryptocurrency has more or less remained back inside the noted 36,500-37,500 range. An attempt to rise above 37,500 was seen just after the wider market close on Friday, when it reached 37,522, but since then to drifted back down and the weekend has delivered a range, pretty much covered by 36,750 to 37,250. So, what is the take away from this repetitive kind of weekend price action? Well, it seems clear here; that it is the lack of heavyweight wholesale punters over this period that is to blame. A while back that was not the case and often there was enough retail demand at weekends to force some quite dynamic moves. So, unless I am wrong, that no longer seems to be the case. After an earlier spike to 37,425 today, BTC has now slipped again and dropped back to a session low so far at 36,848. It is just now trading at 36,895

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!