What Will Bitcoin Do Next Week? Here are the Expert Opinions!

Bitcoin, Ethereum, and other altcoins are showing signs of impending price action. Could Bitcoin be preparing for a pullback next week?

3 reasons why Bitcoin reached $22,000, according to experts

On June 17, the daily candle on the Bitcoin chart closed at $18,596. Later, this level became the bottom and then broke above $20,000 the next day. Such a strong volatility has prepared a potential reversal point for Bitcoin’s future price performance.

What Bitcoin Will Do Next Week, According To Experts

Sales volume is declining

Decreasing volume is usually the main reversal indicator for any rally, be it bearish or bullish. Bitcoin’s volume profiles show that the bears are actively losing their strength in the market and may no longer support the downtrend.

Potential return for institutional investors

This week, there were record outflows in institutional funds following the liquidation of major funds like 3AC. But despite such a large exit, the market may still see some entry in the next week, according to experts. Santiment data, on the other hand, suggests retail investors are currently “underbought.”

Bitcoin, Ethereum and altcoins show signs of reversal

Per the MVRV divergence, Santiment suggested that Bitcoin and other altcoins are currently “underbought.”

According to Santiment, these cryptos have reached the historic MVRV level where a price change can be expected to mitigate current losses. But it’s hard to predict when that will happen.

According to Glassnode, several support indicators are flashing for Bitcoin right now.

However, given the current macroeconomic environment, all models and historical precedents can be put to the test when it comes to identifying a bear market base for Bitcoin. While all Bitcoin macro indicators, from technical to on-chain, are at all-time lows and coincide with the evolution of the bear market base in previous cycles, it is still difficult to pinpoint the bottom of the bear market at this point.

Crypto analyst and economist Alex Kruger says that Bitcoin may have capitulated during the market crash two weeks ago. The analyst underlines that the trading volumes are currently at their peak. This points to capitulation, which produced significant bottoms.

Individual investors bought 113,884 BTC in 2022

AmkNews.com Small Bitcoin investors are still accumulating aggressively, according to IntoTheBlock data that we quoted as BTC addresses holding less than 1 BTC added 113,884 BTC in 2022. As a result, individual investors are accumulating assets at an impressive rate.

According to Glassnode data, this group of investors has seen a surge recently. According to the blockchain data firm, there are currently 3,662,897 addresses holding more than 0.1 Bitcoin.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.