• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Bitcoin drops below $21.8K realized price as FOMC spooks markets

Jon Hartney by Jon Hartney
July 25, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Anticipated volatility comes right on schedule for crypto as the weekly close already looks like a distant memory.

Bitcoin (BTC) stuck to its realized price just below $22,000 on July 25 as Wall Street opened with flat performance.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin gives up more key levels

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it consolidated after falling from $23,000 overnight.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

The pair echoed equities in cool trading prior to the July 27 United States Federal Reserve decision on interest rates. Analysts were expecting several days of volatility, and despite buyer interest in Bitcoin being strong below spot price, everything could still change.

No guarantee any support holds after Wednesday's #FED announcement, but for now #FireCharts shows a ladder of #Bitcoin bids around these next technical support levels. https://t.co/Ng2Rqc0Op7 pic.twitter.com/W6veJMS2YJ

— Material Indicators (@MI_Algos) July 25, 2022

“Big week ahead for the markets,” Umar Ashraf, founder of trading tool TradeZella, forecast.

“Tons of big names reporting earnings alongside with the FOMC starting Tuesday followed by the announcement on Wednesday. Big week doesn’t always mean market must see action, it could be a time period for the market to digest info for next move.”

With traders primed for reactions, Bitcoin unsettled by struggling to hold any of its 200-week moving average (MA), 50-day MA or realized price, these lying at $22,700, $22,200 and $21,850, respectively.

BTC/USD 1-day candle chart (Bitstamp) with 50, 200-day moving average. Source: TradingView

The last of these, the price at which the average Bitcoin last moved, had been reclaimed as support just a week prior.

Comparing realized price behavior this year to previous bear market years, analyst Root warned that the next step could be another extended dive below the trendline.

Cycle comparison: either we find support here or we might get another arch below realized price like in 2014.
Macro might indicate the latter.#Bitcoin #onchain pic.twitter.com/zfphUK2mzv

— Root (@therationalroot) July 25, 2022

Adopting a more hopeful outlook, meanwhile, PlanB, creator of the stock-to-flow Bitcoin price models, noted that the speed with which Bitcoin bounced above its 200-week MA this month could belie underlying strength absent from similar bear phases.

“Normally it takes a lot longer after BTC goes below realized price, for BTC to jump back above 200-week moving average. But it already did,” he explained.

“Also, 200-week moving average and realized price already touched (that normally also takes longer).”

Bitcoin realized price chart. Source: Glassnode

Small fish scoop up dumped institutional coins

Data, meanwhile, showed the extent of supply migration from larger to smaller investors in recent months. 

Related: Will the Fed prevent BTC price from reaching $28K? — 5 things to know in Bitcoin this week

In its latest research, crypto analytics firm Arcane Research calculated the combined selling by institutional sources to be over 236,000 BTC since May 12, the time of the Terra LUNA —now the Terra Classic (LUNC) — blowout.

“The 236,237 BTC number is derived from massive institutional blow-ups and other large known selling seen during the market stress in the last two months,” it wrote.

“The number does not account for other natural capitulation and hedging activity that usually occurs during crypto bear markets.”

Bitcoin institutional sales chart (screenshot). Source: Arcane Research

Meanwhile, data from fellow on-chain analytics platform Glassnode showed that entities with 1 BTC or less in their possession were increasing faster than ever as an overall proportion of the BTC supply. 

Entities with less than 1 #bitcoin are accumulating more now than ever pic.twitter.com/0sw56jg0Iq

— Documenting Bitcoin (@DocumentingBTC) July 25, 2022

The trend had strengthened sharply in 2022 in particular, the data, uploaded to Twitter by popular  account Documenting Bitcoin showed.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$23,389.000.33%
  • ethereumEthereum(ETH)$1,669.980.93%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$334.741.90%
  • usd-coinUSD Coin(USDC)$1.000.01%
  • rippleXRP(XRP)$0.4117720.51%
  • Binance USDBinance USD(BUSD)$1.00-0.02%
  • cardanoCardano(ADA)$0.4013200.25%
  • dogecoinDogecoin(DOGE)$0.0967883.46%
  • matic-networkPolygon(MATIC)$1.241.65%
  • OKBOKB(OKB)$43.796.09%
  • SolanaSolana(SOL)$24.41-0.30%
  • Shiba InuShiba Inu(SHIB)$0.0000157.71%
  • Lido Staked EtherLido Staked Ether(STETH)$1,664.130.88%
  • polkadotPolkadot(DOT)$6.870.03%
  • litecoinLitecoin(LTC)$98.65-0.06%
  • AvalancheAvalanche(AVAX)$21.03-0.73%
  • tronTRON(TRX)$0.0650592.48%
  • UniswapUniswap(UNI)$7.281.91%
  • daiDai(DAI)$1.000.10%
  • cosmosCosmos Hub(ATOM)$14.64-1.17%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,387.000.49%
  • chainlinkChainlink(LINK)$7.230.29%
  • ToncoinToncoin(TON)$2.33-0.02%
  • ethereum-classicEthereum Classic(ETC)$23.772.02%
  • leo-tokenLEO Token(LEO)$3.491.31%
  • moneroMonero(XMR)$172.830.00%
  • AptosAptos(APT)$16.640.89%
  • bitcoin-cashBitcoin Cash(BCH)$137.940.92%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.0930370.23%
  • ApeCoinApeCoin(APE)$5.90-0.62%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.543.80%
  • CronosCronos(CRO)$0.0834721.82%
  • filecoinFilecoin(FIL)$5.54-0.91%
  • QuantQuant(QNT)$143.31-0.48%
  • algorandAlgorand(ALGO)$0.268204-0.30%
  • HederaHedera(HBAR)$0.0728363.21%
  • Lido DAOLido DAO(LDO)$2.19-2.27%
  • vechainVeChain(VET)$0.0248680.84%
  • FantomFantom(FTM)$0.62-1.04%
  • Internet ComputerInternet Computer(ICP)$5.922.03%
  • decentralandDecentraland(MANA)$0.780.43%
  • The SandboxThe Sandbox(SAND)$0.772.01%
  • Axie InfinityAxie Infinity(AXS)$11.633.21%
  • AaveAave(AAVE)$88.98-0.99%
  • eosEOS(EOS)$1.110.52%
  • FlowFlow(FLOW)$1.160.61%
  • MultiversXMultiversX(EGLD)$46.742.23%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000192-1.82%
  • theta-tokenTheta Network(THETA)$1.143.19%
  • tezosTezos(XTZ)$1.182.92%
  • FraxFrax(FRAX)$1.00-0.27%
  • The GraphThe Graph(GRT)$0.11227414.01%
  • true-usdTrueUSD(TUSD)$1.00-0.03%
  • huobi-tokenHuobi(HT)$5.813.03%
  • paxos-standardPax Dollar(USDP)$1.000.55%
  • havvenSynthetix Network(SNX)$2.755.18%
  • kucoin-sharesKuCoin(KCS)$8.810.87%
  • bitcoin-cash-svBitcoin SV(BSV)$43.700.88%
  • Curve DAOCurve DAO(CRV)$1.09-0.77%
  • PancakeSwapPancakeSwap(CAKE)$4.626.77%
  • ChilizChiliz(CHZ)$0.145837-0.22%
  • Rocket PoolRocket Pool(RPL)$40.25-0.23%
  • Frax ShareFrax Share(FXS)$10.29-4.89%
  • eCasheCash(XEC)$0.000039-0.22%
  • ImmutableXImmutableX(IMX)$0.91-2.45%
  • BitTorrentBitTorrent(BTT)$0.0000011.18%
  • USDDUSDD(USDD)$0.990.02%
  • Trust WalletTrust Wallet(TWT)$1.691.72%
  • Mina ProtocolMina Protocol(MINA)$0.84-0.07%
  • iotaIOTA(MIOTA)$0.2479632.24%
  • dashDash(DASH)$61.08-1.09%
  • BitDAOBitDAO(BIT)$0.580.78%
  • KlaytnKlaytn(KLAY)$0.2136741.46%
  • GateGate(GT)$4.500.14%
  • OptimismOptimism(OP)$3.010.39%
  • makerMaker(MKR)$709.270.83%
  • neoNEO(NEO)$8.81-0.72%
  • cUSDCcUSDC(CUSDC)$0.0227480.02%
  • ArweaveArweave(AR)$12.00-1.48%
  • zcashZcash(ZEC)$46.41-0.03%
  • GMXGMX(GMX)$70.38-7.54%
  • RadixRadix(XRD)$0.057577-2.52%
  • gemini-dollarGemini Dollar(GUSD)$1.010.60%
  • OKCOKC(OKT)$32.356.10%
  • cDAIcDAI(CDAI)$0.0221920.14%
  • THORChainTHORChain(RUNE)$1.86-1.07%
  • OsmosisOsmosis(OSMO)$1.04-4.97%
  • Tokenize XchangeTokenize Xchange(TKX)$6.820.93%
  • Baby Doge CoinBaby Doge Coin(BABYDOGE)$0.00000054.45%
  • RenderRender(RNDR)$1.777.07%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • loopringLoopring(LRC)$0.402881-0.90%
  • PAX GoldPAX Gold(PAXG)$1,861.73-0.07%
  • Convex FinanceConvex Finance(CVX)$6.56-0.31%
  • enjincoinEnjin Coin(ENJ)$0.4865462.60%
  • zilliqaZilliqa(ZIL)$0.030157-0.09%
  • EthereumPoWEthereumPoW(ETHW)$4.48-1.50%