{"id":16042,"date":"2022-12-31T16:56:07","date_gmt":"2022-12-31T16:56:07","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-stays-put-with-yearly-close-set-to-seal-60-ytd-btc-price-loss\/"},"modified":"2022-12-31T16:56:09","modified_gmt":"2022-12-31T16:56:09","slug":"bitcoin-stays-put-with-yearly-close-set-to-seal-60-ytd-btc-price-loss","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-stays-put-with-yearly-close-set-to-seal-60-ytd-btc-price-loss\/","title":{"rendered":"Bitcoin stays put with yearly close set to seal 60% YTD BTC price loss"},"content":{"rendered":"
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Bitcoin (BTC) kept traders guessing to the last minute into the 2022 yearly close as volatility remained absent from the market.<\/p>\n

BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n

BTC price: Where’s the volatility?<\/h2>\n

Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD clinging to a familiar area around $16,500.<\/p>\n

The pair continued to disappoint players on both sides of the trade after a sideways Christmas, ignoring the potential significance of the simultaneous weekly, monthly, quarterly and yearly candle close.<\/p>\n

\u201cTechnical resistance and overhead liquidity suggests sub $17k local top, but anything goes in the Wild Wild West,\u201d on-chain analytics resource Material Indicators wrote<\/a> in part of commentary on the Binance BTC\/USD order book.<\/p>\n

An accompanying chart nonetheless showed a lack of significant support above $16,000, with resistance overhead at $17,000.<\/p>\n

BTC\/USD order book data (Binance). Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n

Looking slightly beyond the close, Arthur Hayes, former CEO of exchange BitMEX, hoped that Bitcoin would not fall under its post-FTX floor around $15,500.<\/p>\n

\u201cIf $BTC can hold FTX lows that\u2019s positive. Let\u2019s see what the new year brings,\u201d part of comments stated<\/a> as part of a warning over U.S. dollar liquidity.<\/p>\n

More categorical when it came to bearish forecasts was popular trader Cypto Tony, who doubled down on his existing theory that further downside would precede Bitcoin\u2019s recovery.<\/p>\n

\u201cThis remains my macro outlook on Bitcoin where we see another pullback lower before accumulation prior to the next bull run,\u201d he told<\/a> Twitter followers.<\/p>\n

BTC\/USD annotated chart. Source: Crypto Tony\/ Twitter<\/em><\/figcaption><\/figure>\n

Bitcoin dominance due a January boost<\/h2>\n

One small dose of good news for BTC bulls meanwhile came from Toni Ghinea, who on Dec. 30 eyed an increasing crypto market cap dominance trend.<\/p>\n

Related:\u00a0‘Crypto winter’ won’t end in 2023 \u2014 Bitcoin advocate David Marcus<\/em><\/strong><\/p>\n

Despite also calling for fresh downside to afflict Bitcoin price action, Ghinea now said that it would be altcoins bearing the brunt of the anguish.<\/p>\n

“BTC Dominance will push up in the next weeks. More pain for alts. is coming,” he tweeted<\/a> on Dec. 30.<\/p>\n

Bitcoin market cap dominance annotated chart. Source: Toni Ghinea\/ Twitter<\/em><\/figcaption><\/figure>\n

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<\/div>\n