{"id":590073,"date":"2023-09-06T16:35:03","date_gmt":"2023-09-06T13:35:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-bids-move-to-lowest-since-march-as-btc-price-dips-under-25-7k\/"},"modified":"2023-09-06T16:35:03","modified_gmt":"2023-09-06T13:35:03","slug":"bitcoin-bids-move-to-lowest-since-march-as-btc-price-dips-under-25-7k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-bids-move-to-lowest-since-march-as-btc-price-dips-under-25-7k\/","title":{"rendered":"# Bitcoin bids move to lowest since March as BTC price dips under $25.7K"},"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-6a39f14e63e28\" 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-6a39f14e63e28\" 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-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bids-move-to-lowest-since-march-as-btc-price-dips-under-25-7k\/#Analyst_Bitcoin_bulls_and_bears_both_lack_%E2%80%9Creal_strength%E2%80%9D\" >Analyst: Bitcoin bulls and bears both lack \u201creal strength\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bids-move-to-lowest-since-march-as-btc-price-dips-under-25-7k\/#%E2%80%9CAnother_big_move_brewing%E2%80%9D_for_Bitcoin\" >\u201cAnother big move brewing\u201d for Bitcoin<\/a><\/li><\/ul><\/nav><\/div>\n<p itemprop=\"description\" class=\"post__lead\" data-v-2649fa34> BTC price action reflects a tug-of-war between weak bulls and bears, but Bitcoin breaking down is firmly on the cards. <\/p>\n<p><\/p>\n<div class=\"post-content\" data-v-2649fa34>Bitcoin\u2019s (BTC) bullish momentum is \u201cfading\u201d as liquidity shifts preempt a volatile move, a new analysis warns.<\/p>\n<p>In an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KAProductions\/status\/1699393495121678692\/photo\/1\">X post<\/a> on Sep. 6, Keith Alan, co-founder of monitoring resource Material Indicators, flagged fresh shifts on the Binance order book.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Bitcoin_bulls_and_bears_both_lack_%E2%80%9Creal_strength%E2%80%9D\"><\/span>Analyst: Bitcoin bulls and bears both lack \u201creal strength\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>BTC\u2019s price has stayed tightly rangebound since the weekend, but exchange data suggests that the status quo may be about to change.<\/p>\n<p>Publishing a snapshot of the BTC\/USD order book on Binance, Alan cautioned over what he called \u201cconcerning\u201d changes in liquidity.<\/p>\n<p>Bid support moved down to concentrate around $24,600 on the day, with that price level not seen on spot markets since March.<\/p>\n<p>\u201cWhat is most concerning here is that the largest concentrations of BTC bid liquidity have now moved below the previously established Lower Low at the bottom of the range,\u201d part of an accompanying commentary stated.<\/p>\n<p>BTC\/USD put in its lowest post-March dip in mid-June, reaching $24,750 before reversing higher, data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0confirms.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-09\/850590a7-d0f8-4b44-add6-7c81041cd54c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Continuing, Alan said that he envisioned a similar bounce from current spot levels before any downside returned.<\/p>\n<p>\u201cFrom a macro perspective, I do expect to see price breakdown eventually, so the thought of printing a new LL isn\u2019t surprising, but I did expect to see a stronger short term rally from this range before that 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>ens,\u201d he wrote.<\/p>\n<p>That said, bears are yet to gain the upper hand entirely.<\/p>\n<p>\u201cAt this stage, I\u2019m not seeing either side establish any real strength, in fact, IMO, this move doesn\u2019t indicate strength in bearish momentum as much as it indicates that bullish momentum and sentiment seem to be fading,\u201d he concluded. <\/p>\n<blockquote><p>\u201cWhatever the case, I do not trust those buy walls to just sit there and get filled.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-09\/588134ff-0039-4f15-918b-22868aaff8e2.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD order book data for Binance. Source: Keith Alan\/X<\/em><\/figcaption><\/figure>\n<p>Alan previously highlighted $24,750 as the line in the sand for bulls to hold in order to protect the wider Bitcoin price uptrend.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CAnother_big_move_brewing%E2%80%9D_for_Bitcoin\"><\/span>\u201cAnother big move brewing\u201d for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Elsewhere, popular trader Skew agreed that volatility should soon return, pointing to activity on derivatives markets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Choppy start to the week<\/p>\n<p>Lots of over trading in derivatives market <\/p>\n<p>Perp liquidity increasing a bit <br \/>Spot liquidity increasingly thin <\/p>\n<p>Likely seeing toxic orderflow today (especially on the bid)<\/p>\n<p>All points to another big move brewing for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a><\/p>\n<p>\u2014 Skew \u0394 (@52kskew) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/52kskew\/status\/1699100698217181659?ref_src=twsrc%5Etfw\">September 5, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related: Bitcoin price metric copies move that last came before -25% FTX crash<\/em><\/strong><\/p>\n<p>Fellow trader Credible Crypto, known for his comparative optimism on BTC price prospects, also hoped that the downside would be limited to the high $24,000 range.<\/p>\n<p>\u201cThe local low on major liquid\/spot exchanges is at 25.2k,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CredibleCrypto\/status\/1699315152208978202\">told<\/a> X subscribers on the day alongside an explanatory chart. <\/p>\n<blockquote><p>\u201cWould love to see those lows taken while still holding the higher timeframe low at 24.8k (which is the more important one) before a reversal back up to fill the inefficiency above us into supply (red).\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-09\/05b95c22-6144-4b7e-a08b-4fc79b3053ee.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: CredibleCrypto\/X<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their 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\/bitcoin-bids-lowest-since-march-btc-price-dips\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BTC price action reflects a tug-of-war between weak bulls and bears, but Bitcoin breaking down is firmly on the cards. Bitcoin\u2019s (BTC) bullish momentum is \u201cfading\u201d as liquidity shifts preempt a volatile move, a new analysis warns. In an X post on Sep. 6, Keith Alan, co-founder of monitoring resource Material Indicators, flagged fresh shifts&#8230;<\/p>\n","protected":false},"author":1,"featured_media":590074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvMmQ4Njg4OTQtMjhjYS00NWE3LWE5MmMtMzg3NmFlZWUxZGZhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-590073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/590073","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=590073"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/590073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/590074"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=590073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=590073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=590073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}