{"id":461978,"date":"2022-06-13T09:48:24","date_gmt":"2022-06-13T06:48:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\/"},"modified":"2022-06-13T09:48:24","modified_gmt":"2022-06-13T06:48:24","slug":"lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\/","title":{"rendered":"# Lowest weekly close since December 2020 \u2014 5 things to know in Bitcoin this week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b728cdffd8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b728cdffd8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\/#%E2%80%9D_Lowest_weekly_close_since_December_2020_%E2%80%94_5_things_to_know_in_Bitcoin_this_week_%E2%80%9C\" >&#8221; Lowest weekly close since December 2020 \u2014 5 things to know in Bitcoin this week &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\/#Celsius_%E2%80%9Ccollapse%E2%80%9D_looms_sending_Bitcoin_tumbling\" >Celsius \u201ccollapse\u201d looms, sending Bitcoin tumbling<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\/#Fed_policy_update_looms_on_40-year_record_inflation\" >Fed policy update looms on 40-year record inflation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\/#US_dollar_wastes_no_time_challenging_20-year_highs\" >U.S. dollar wastes no time challenging 20-year highs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\/#%E2%80%9CMisery_Index%E2%80%9D_underscores_market_fear\" >&#8220;Misery Index&#8221; underscores market fear<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\/#%E2%80%9COpportunity_of_a_lifetime%E2%80%9D\" >\u201cOpportunity of a lifetime?\u201d<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Lowest_weekly_close_since_December_2020_%E2%80%94_5_things_to_know_in_Bitcoin_this_week_%E2%80%9C\"><\/span>&#8221; Lowest weekly close since December 2020 \u2014 5 things to know in Bitcoin this week &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) begins a new week with a totally different feel to last as BTC\/USD seals its lowest weekly close since December 2020.<\/p>\n<p>A night of losses into June 13 means that the largest cryptocurrency is now edging closer to beating its ten-month lows from May. <\/p>\n<p>The weakness has left few guessing \u2014 shock inflation data from the United States last week sparked a chain reaction across risk assets, and low weekend liquidity <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to exacerbate the consequences for cryptoassets.<\/p>\n<p>The macro pain continues this week \u2014 the Federal Reserve is due to provide information on rate hikes and the economy more broadly, the first official policy update since the inflation figures.<\/p>\n<p>The mood among analysts on both Bitcoin and altcoins \u2014 while not unanimously bearish \u2014 is thus one of resignation. A period of painful trading and hodling conditions may have to be endured before a return to upside, something which at least chimes with the historical patterns of Bitcoin\u2019s halving cycles.<\/p>\n<p>What could be the market triggers in the coming week? Cointelegraph takes a look at five factors to consider as a Bitcoin trader.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Celsius_%E2%80%9Ccollapse%E2%80%9D_looms_sending_Bitcoin_tumbling\"><\/span>Celsius \u201ccollapse\u201d looms, sending Bitcoin tumbling<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It was a long time coming, but Bitcoin has finally broken out of the tight range in which it has traded since first dipping to ten-month lows last month. <\/p>\n<p>After bouncing from $23,800, BTC\/USD then circled the $30,000 zone for weeks on end, failing to deliver a decisive move up or down. Now, while not what investors would like, the direction seems clear.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> is on the cusp of performing its first Weekly Candle Close below the Macro Range Low area<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/jwqBHfFV1F\">pic.twitter.com\/jwqBHfFV1F<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1536096198498693121?ref_src=twsrc%5Etfw\">June 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>It is not just one range that Bitcoin has exited \u2014 as trader and analyst Rekt Capital noted on June 12, in abandoning the zone near $30,000, BTC\/USD is also ditching a macro trading range in place since the start of 2021.<\/p>\n<p>As such, the most recent weekly close, at around $26,600, was Bitcoin\u2019s lowest since December 2020, data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0shows.<\/p>\n<p>\u201cWorst is over. $BTC 25k defended. Think can squeeze a little now, resume selling tomorrow with equities,\u201d economist, trader and entrepreneur Alex Krueger <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/krugermacro\/status\/1536190287491452928\">predicted<\/a>.<\/p>\n<p>An accompanying chart showed a band of buy support in place at $25,000, helping peg 24-hour losses at 12%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/cb719052-a4dc-4ca1-b4bc-6b95d6f5e3b0.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD order book data chart (Binance). Source: Alex Krueger\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>The market at the time of writing was nonetheless in a state of flux as the dust settled on a grim reminder of what happened during May\u2019s spike below $24,000.<\/p>\n<p>Whereas then it was Blockchain protocol Terra\u2019s LUNA and TerraUSD (UST) tokens imploding, this weekend, it was the turn of FinTech platform Celsius and its CEL token to follow suit.<\/p>\n<p>Down 40% on the day in USD terms, CEL predictably suffered from a decision by Celsius to halt withdrawals and transfers altogether in order to \u201cstabilize liquidity.\u201d<\/p>\n<p>\u201cDue to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations,\u201d a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.celsius.network\/a-memo-to-the-celsius-community-59532a06ecc6\">blog post<\/a> issued on June 13 reads.<\/p>\n<p>Reacting, Bitcoin pundits already skeptical of the altcoin space following the Terra debacle wasted no time in pinning the blame for the extent of BTC price losses on events at Celsius.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">gox hack was rough, ICO bubble was frustrating, but celsius hits the hardest because\u00a0it&#8217;s as though we learned nothing from 2008\u00a0<\/p>\n<p>it was literally on the first page of the bitcoin white paper\u00a0<\/p>\n<p>and yet time feels like a flat circle sometimes<\/p>\n<p>\u2014 juthica (@juthica) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/juthica\/status\/1536179075210960896?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cCelsius looks like it could collapse and take a bunch of customer money with it,\u201d Robert Breedlove, host of the What is Money podcast, added in part of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Breedlove22\/status\/1536196824096292864\">Twitter comments<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fed_policy_update_looms_on_40-year_record_inflation\"><\/span>Fed policy update looms on 40-year record inflation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A black swan event copying Terra is arguably the last thing that Bitcoin needs given already shaky macro conditions.<\/p>\n<p>Regardless, the scope for fresh turmoil remains this week as the Fed\u2019s Federal Open Markets Committee (FOMC) prepares its June policy meeting which starts June 15. <\/p>\n<p>Coming after Friday\u2019s 8.6% inflation readout, expectations are that the gathering will hasten the pace of key rate hikes \u2014 something which neither stocks nor cryptoassets would welcome.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Capitulation -&gt; Retest -&gt; Rinse Repeat <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> has seen this 31-day pattern repeatedly in 2022<\/p>\n<p>If Jay Powell &amp; FOMC surprises with anything more than 50 basis point rate hike, it&#8217;s definitely new leg Down  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qMUeGp3gjR\">pic.twitter.com\/qMUeGp3gjR<\/a><\/p>\n<p>\u2014 Matt C\u26a1\ufe0f (@mithcoons) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mithcoons\/status\/1536018574489403392?ref_src=twsrc%5Etfw\">June 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Krueger, like others, added that the Fed would most likely be the clinch factor in determining the remaining downside for risk assets.<\/p>\n<p>\u201cFor the bottom have to wait for the Fed (or equities) to turn,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/krugermacro\/status\/1536194802386993152\">wrote<\/a>. <\/p>\n<blockquote><p>\u201cCan scalps levels, but seriously doubt any level will bring a trend change by itself. Slight chance the Fed does not turn hawkish on Wed and if so rally hard. Hawkish acceleration more likely.\u201d<\/p><\/blockquote>\n<p>An Asian sell-off made life worse for equities at the start of the week, impacting risk-sensitive currencies such as the Japanese yen and Australian dollar.<\/p>\n<p>\u201cAt some point financial conditions will tighten enough and\/or growth will weaken enough such that the Fed can pause from hiking,\u201d Goldman Sachs strategists including Zach Pandl wrote in a note <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-12\/inflation-thunderbolt-primes-stocks-bonds-for-more-volatility\">quoted<\/a> by Bloomberg on June 13. <\/p>\n<blockquote><p>\u201cBut we still seem far from that point, which suggests upside risks to bond yields, ongoing pressure on risky assets, and likely broad US dollar strength for now.\u201d<\/p><\/blockquote>\n<p>Bloomberg additionally reported that a 75-basis-point rate hike may be on the table, as markets price in base rates of 3% or more by the end of the year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US_dollar_wastes_no_time_challenging_20-year_highs\"><\/span>U.S. dollar wastes no time challenging 20-year highs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Where risk assets suffer, the U.S. dollar has made the most of its power over the past two years. <\/p>\n<p>That trend looks set to continue as macro conditions pressure practically every other world currency and risk assets provide no realistic safe haven.<\/p>\n<p>The U.S. dollar index (DXY), despite retracing in recent weeks, is now firmly back in the saddle and targeting the highs of 105 seen in May. These reflect peak USD strength since 2002, and at the time of writing are just 0.5 points away.<\/p>\n<p>\u201c$DXY is going strong, no wonder assets are tanking,\u201d Tony Edward, host of the Thinking Crypto Podcast, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ThinkingCrypto1\/status\/1536184702331244544\">responded<\/a>.<\/p>\n<p>Since the cross-market crash of March 2020, DXY strength has been a reliable counter-indicator for BTC price performance. Until a significant trend change enters, the outlook for Bitcoin could thus stay skewed to the sell-side. <\/p>\n<p>\u201cDollar strength often leads to contractions in corporate earnings globally. Today\u2019s inflation problem adds even further pressure on profit margins to be squeezed,\u201d Otavio Costa, founder of global macro asset management firm Crescat Capital, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TaviCosta\/status\/1535919165113892865\">told<\/a> Twitter followers about the dollar versus the Fed\u2019s inflation narrative on June 12.<\/p>\n<blockquote><p>\u201cOnly a matter of time before the \u2018soft landing\u2019 narrative turns into the same old \u2018transitory\u2019 nonsense.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/ecffa2b4-8931-4cbd-a698-383922761998.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CMisery_Index%E2%80%9D_underscores_market_fear\"><\/span>&#8220;Misery Index&#8221; underscores market fear<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>There will be no surprises when it comes to cryptocurrency market sentiment this week, with the macro mood likewise taking a turn for the worse.<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Crypto Fear &amp; Greed Index<\/a>, which uses a basket of factors to determine overall conditions among traders, is teetering on the edge of a dip into single figures.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/342251e6-d2a8-475c-9c0f-56c45e56b3e6.png\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed Index (screenshot). Source: Alternative.me<\/em><\/figcaption><\/figure>\n<p>Having spent much of 2022 in an area traditionally reserved for market bottoms, Fear &amp; Greed has yet to convince anyone that a floor could be in.<\/p>\n<p>On June 13, it measured 11\/100, just three points higher than its macro lows from March 2020.<\/p>\n<p>Last week\u2019s inflation print similarly took its toll on the traditional market Fear &amp; Greed Index, which is now back in its \u201cfear\u201d zone at 28\/100, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/edition.cnn.com\/markets\/fear-and-greed\">data<\/a> from CNN.<\/p>\n<p>It is not just the financial world feeling the pinch \u2014 the so-called \u201cMisery Index,\u201d which measures inflation and unemployment, is giving signs that economist Lyn Alden describes as \u201cnot great.\u201d<\/p>\n<p>\u201cCombined with how much debt\/GDP exists now compared to the past, no wonder consumer sentiment is at record lows,\u201d she <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LynAldenContact\/status\/1535993629805879298\">commented<\/a> on Fed data.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/5316ec84-0f34-4a38-a178-63fff81618d4.png\"><figcaption style=\"text-align: center;\"><em>Misery Index chart. Source: Lyn Alden\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9COpportunity_of_a_lifetime%E2%80%9D\"><\/span>\u201cOpportunity of a lifetime?\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Given current circumstances, it may feel like there are no Bitcoin bulls left to offer a silver lining to the multiple clouds on the horizon. <\/p>\n<p><strong><em>Related:\u00a0Top 5 cryptocurrencies to watch this week: BTC, FTT, XTZ, KCS, HNT<\/em><\/strong><\/p>\n<p>Zooming out, however, there are many who view the current market setup as a golden investment opportunity if exploited correctly.<\/p>\n<p>Among them is Filbfilb, co-founder of trading suite Decentrader, who over the weekend called Bitcoin the \u201copportunity of a lifetime.\u201d<\/p>\n<p>\u201cJust to be clear, despite short\/medium term issues which unfortunately are across the board, if you can survive and play your moves right without blowing up or risking too much so you have no capital, this is IMO the opportunity of a lifetime,\u201d he wrote as part of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/filbfilb\/status\/1536022288142848001\">Twitter thread<\/a>.<\/p>\n<p>Like others, Filbfilb tied BTC performance to stocks, warning that the average hodler is blind to the \u201coverleveraged\u201d conditions that still exist on exchanges.<\/p>\n<p>\u201cThey will feel the pinch,\u201d he continued. <\/p>\n<p>Contextualizing Bitcoin now within its four-year halving cycle, analyst Venturefounder meanwhile argued that the max pain scenario could enter in the coming weeks. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> cycle end capitulation is perhaps happening now.<\/p>\n<p>Just another 15% downside to reach <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/200WMA?src=hash&amp;ref_src=twsrc%5Etfw\">#200WMA<\/a> and 1 fib extension level ($22-23k) from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> cycle top, this can happen quickly, in the next few weeks. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/8cp6Oes7PK\">pic.twitter.com\/8cp6Oes7PK<\/a><\/p>\n<p>\u2014 venturefound\u039er (@venturefounder) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/venturefounder\/status\/1536154965051334656?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Currently midway through its cycle, BTC is in a place which has felt like bearish capitulation twice before \u2014 in both 2014 and 2018. <\/p>\n<p class=\"post-content__disclaimer\">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.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/lowest-weekly-close-since-december-2020-5-things-to-know-in-bitcoin-this-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Lowest weekly close since December 2020 \u2014 5 things to know in Bitcoin this week &#8220; Bitcoin (BTC) begins a new week with a totally different feel to last as BTC\/USD seals its lowest weekly close since December 2020. A night of losses into June 13 means that the largest cryptocurrency is now edging&#8230;<\/p>\n","protected":false},"author":1,"featured_media":461979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNjZmMzE4M2EtNWZkYy00MzRhLWE1MDItMjRmZTg0NDExNmJjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70551,73785],"class_list":["post-461978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-inflation","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/461978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=461978"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/461978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/461979"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=461978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=461978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=461978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}