Bitcoin's weekly losing streak stands at seven after the next red candle that took the world's biggest crypto below $30,000.that cratered the entire crypto market. Even though bulls can book a bounceback from a long wick that took BTC as low as $25,000, it's the first seven-week losing streak in Bitcoin's history:
The DXY and Bitcoin tend to move inversely to one another — which explains some of Bitcoin's recent weaknesses. Add to that a stuttering equity market that is choked off by rising interest rates and this historic losing streak doesn't seem so surprising anymore.However, bulls have reason to believe they can make a stand around $30,000.
He also pointed out that whales currently dominate futures markets. For example, long positions on Bitfinex reached an all-time high in the recent days. The last few times similar trading patterns were observed, BTC bounced off lows as a result:
Source: Digital Coin News (digitalcoinnews.net)
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Just remember to zoom out and look at what $BTC has done in the last 10 years!
Why everybody is silent about this
ElonCokeBSC
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$PKR
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