China News Official Today TheBitTimes.com

Bitcoin traders are particularly interested in the short-term holder cost basis as a potential BTC price support level. Bitcoin (BTC) shed 2% into the start of August as traders’ expectations of further downside slowly came true.  BTC/USD 1-hour chart. Source: TradingView Bitcoin short-term holder breakeven point in focus Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory leaning lower at the July monthly close. Volatility was already anticipated, and BTC/USD did not disappoint after a week of barely any movement whatsoever. Bulls, however, were left in the cold. For popular trader and analyst Rekt Capital, the close price was significant, but demanded that buyers now step in to protect the trend. Commenting on a chart showing relevant levels and Bitcoin’s potential moves, he flagged $29,250 as the line in the sand. “Instead of BTC Monthly Closing above the ~$29250 level (black)... $BTC printed a Monthly Close marginally below the ~$29250 level. BTC nee...

BTC price performance is getting market participants worried in the short term, but the signs of wider Bitcoin accumulation are there. Bitcoin (BTC) starts a new week above $30,000 but heading nowhere as the multi-month trading range refuses to shift. BTC price action is giving traders little more than a frustrating sense of deja vu — and they are now wondering what it could take to change the trend. It may in fact be more accurate to say that on low timeframes, a trend is exactly what Bitcoin lacks. The largest cryptocurrency has spent weeks bounding between upside and downside liquidity pockets without deciding whether bulls or bears will ultimately win. This struggle continues to play out with predictable regularity, and nothing — not macroeconomic data prints, institutional involvement or else — has been able to switch things up. With that in mind, it may not be all that problematic that the coming week offers little in terms of data-driven risk asset catalysts from the United S...