{"id":532117,"date":"2022-12-28T21:03:52","date_gmt":"2022-12-28T18:03:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-bottom-not-in-data-says-as-whale-orders-hit-2-year-low\/"},"modified":"2022-12-28T21:03:52","modified_gmt":"2022-12-28T18:03:52","slug":"bitcoin-price-bottom-not-in-data-says-as-whale-orders-hit-2-year-low","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-bottom-not-in-data-says-as-whale-orders-hit-2-year-low\/","title":{"rendered":"# Bitcoin price bottom not in, data says as whale orders hit 2-year low"},"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-6a3ac42652b95\" 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-6a3ac42652b95\" 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\/bitcoin-price-bottom-not-in-data-says-as-whale-orders-hit-2-year-low\/#%E2%80%9D_Bitcoin_price_bottom_not_in_data_says_as_whale_orders_hit_2-year_low_%E2%80%9C\" >&#8221; Bitcoin price bottom not in, data says as whale orders hit 2-year low &#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\/bitcoin-price-bottom-not-in-data-says-as-whale-orders-hit-2-year-low\/#Binance_order_book_leaves_%E2%80%9Cnot_much_to_be_excited_about%E2%80%9D\" >Binance order book leaves \u201cnot much to be excited about\u201d<\/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\/bitcoin-price-bottom-not-in-data-says-as-whale-orders-hit-2-year-low\/#%E2%80%9CLower_BTC_prices_to_come%E2%80%9D\" >\u201cLower BTC prices to come\u201d<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_bottom_not_in_data_says_as_whale_orders_hit_2-year_low_%E2%80%9C\"><\/span>&#8221; Bitcoin price bottom not in, data says as whale orders hit 2-year low &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-02fa634a>Bitcoin (BTC) is not about to bottom at just below $17,000, warns a new analysis as bid liquidity dries up.<\/p>\n<p>In <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> posts after Christmas, on-chain analytics resource Material Indicators flagged waning interest in protecting the current BTC price range.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Binance_order_book_leaves_%E2%80%9Cnot_much_to_be_excited_about%E2%80%9D\"><\/span>Binance order book leaves \u201cnot much to be excited about\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With volatility still largely absent from Bitcoin markets, analysts are keenly eyeing what could h<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>en at this week\u2019s yearly close.<\/p>\n<p>The closing price for BTC\/USD on Dec. 31 will also mark the conclusion of the weekly and quarterly candles, and any flash volatility could turn 2022 into a nightmarish bear market year.<\/p>\n<p>As Cointelegraph reported, the pair is currently down around 60% year-to-date, while it has lost 76% versus its latest all-time high from November 2021.<\/p>\n<p>This may still not be enough to cap the bear market, various analysts have warned; and now, order book data appears to underscore the potential for fresh losses.<\/p>\n<p>\u201cNothing illustrates sentiment for a price level like liquidity, and there does not appear to be much sentiment for this price level being the bottom,\u201d Material Indicators <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1608116750499082240\">commented<\/a> on a chart of BTC\/USD order book activity on Binance.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/ca83a626-4094-4e7d-92bb-9007fcb5b66b.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD order book chart (Binance). Source: Material Indicators\/Twitter<\/em><\/figcaption><\/figure>\n<p>On Dec. 27, another post <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1607792740800294912\">argued<\/a> that there was not \u201cmuch to be excited about\u201d given current order book volumes, these also showing large-volume traders reducing exposure.<\/p>\n<p>\u201cBTC ranging prices have a lot to do with declining whale interest,\u201d research firm Santiment <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/santimentfeed\/status\/1607904879951110145\">continued<\/a> on the topic.<\/p>\n<p>Another chart highlighted what Santiment said was a \u201ccorrelation\u201d between large transactions of $1 million or more and overall BTC price strength. Those transactions are now at their lowest levels since December 2020.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/4a7a1427-87d8-42a2-a11a-0238243ae043.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Santiment\/Twitter<\/em><\/figcaption><\/figure>\n<p>\u201cIf prices continue sliding and a spike occurs, this would be a historically bullish signal,\u201d it added.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CLower_BTC_prices_to_come%E2%80%9D\"><\/span>\u201cLower BTC prices to come\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In its \u201cJust Crypto\u201d end-of-year summary and forecast, meanwhile, trading firm QCP Capital had more bad <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for crypto hodlers.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin hodlers sit on record 8M BTC in unrealized loss, data shows<\/em><\/strong><\/p>\n<p>Both Bitcoin and Ether (ETH) are due to begin a \u201cWave 5 extension lower\u201d to begin 2023, analysts <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/qcp.capital\/featured-article\/just-crypto-5-the-ghosts-of-arthur-burns-2022-wrap-2023-unwrap\/\">believe<\/a>, in line with risk assets and the U.S. dollar and bonds seeing renewed strength.<\/p>\n<p>\u201cWe continue to expect any large rallies in BTC to meet significant selling pressure,\u201d they wrote, describing Bitcoin as \u201ctrading in lock-step\u201d with ETH.<\/p>\n<p>An additional correlation of its own centered on ARK Invest\u2019s ARK Innovation (ARKK) exchange-traded fund.<\/p>\n<p>\u201cARKK price action is leading BTC by 2 months, which forewarns of lower BTC prices to come,\u201d QCP added alongside a comparative chart.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/19e41763-65be-443a-8cd6-ccc2fbff0145.png\"><figcaption style=\"text-align: center;\"><em>ARKK vs. BTC\/USD chart (screenshot). Source: QCP Capital<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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 News 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\/bitcoin-price-bottom-not-in-data-says-as-whale-orders-hit-2-year-low\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price bottom not in, data says as whale orders hit 2-year low &#8220; Bitcoin (BTC) is not about to bottom at just below $17,000, warns a new analysis as bid liquidity dries up. In social media posts after Christmas, on-chain analytics resource Material Indicators flagged waning interest in protecting the current BTC price&#8230;<\/p>\n","protected":false},"author":1,"featured_media":532118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/90ea799b-3b7f-4d91-a184-5babab42be46.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[93835,74862,74937,73785],"class_list":["post-532117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ark","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/532117","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=532117"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/532117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/532118"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=532117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=532117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=532117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}