{"id":501249,"date":"2022-09-06T19:11:38","date_gmt":"2022-09-06T19:11:38","guid":{"rendered":"https:\/\/uniquehot.com\/?p=501249"},"modified":"2024-06-11T14:23:22","modified_gmt":"2024-06-11T14:23:22","slug":"crypto-market-setting-up-for-squeeze-of-historic-proportions-will-btc-price-get-in-the-way","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-market-setting-up-for-squeeze-of-historic-proportions-will-btc-price-get-in-the-way\/","title":{"rendered":"Crypto Market Setting Up For \u201cSqueeze Of Historic Proportions\u201d, Will BTC Price Get In The Way?"},"content":{"rendered":"

Bitcoin is showing weakness as BTC price trades in a tight range, the number one crypto by market cap saw a small uptick in volatility during today\u2019s trading session. However, the price action was smothered by poor performance in traditional equities.<\/p>\n

Related Reading: CAKE Sets Sights For $5 After More Than 7 Million Tokens Are Sent To A Fiery Death<\/a><\/strong><\/div>\n

At the time of writing, BTC price trades at $19,00 with a 4% loss in the last 24 hours and a 3% loss over the past week. As Bitcoin trends lower into support, the momentum indicator follows suggesting there is little conviction to resume bullish momentum.<\/p>\n

\"Bitcoin
BTC’s price trends lower on the 4-hour chart, heading into yearly lows? Source: BTCUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n

BTC Price Liquidity Trends To The Downside As Bitcoin Loses $19,000 Levels<\/h2>\n

In the coming two weeks, the crypto market will go through a major milestone with Ethereum\u2019s \u201cMerge\u201d. The second crypto by market cap will complete its transition to a Proof-of-Stake (PoS) consensus. As a result, ETH price has been outperforming BTC price.<\/p>\n

\u201cThe Merge\u201d is scheduled for mainnet deployment between September 13th<\/sup> to 15th<\/sup>, this event is bound to bring volatility into the market. Today, Ethereum core developers announced the successful implementation of the \u201cBellatrix\u201d update.<\/p>\n

A few hours later, the BTC price broke below a critical support zone and trendline created since the August bullish price action. Data from Material Indicators shows liquidity in the orderbook for crypto exchange Binance has been getting thick to the downside.<\/p>\n

As the price of Bitcoin trends lower, liquidity followed and sits near the cryptocurrency\u2019s yearly lows between $17,600 to $18,000. In the meantime, all investors class have been selling into the price action, from retail to large investors.<\/p>\n

\"Bitcoin
BTC price (blue line on the chart) moving into downside liquidity on low timeframes. Source: Material Indicators<\/figcaption><\/figure>\n

If today is any indicator of what traders should expect from \u201cThe Merge\u201d, and bulls can support BTC price’s current levels, the cryptocurrency might take another leg down into the pool of bids shown in the chart above. Next critical support levels sit at $17,000 and $16,000.<\/p>\n

For a deeper dive into “The Merge” and its potential implications for the price of Ethereum, check out the analysis from our Editorial Director Tony Spilotro.<\/p>\n

<\/iframe><\/div>\n

Institutions Go Short, BTC Price Doom To Re-Test Yearly Lows?<\/h2>\n

The second major catalyst for the crypto market will take place during \u201cThe Merge\u201d, the U.S. will publish its most recent Consumer Price Index (CPI) that will provide more clues into the country\u2019s inflation. As NewsBTC has been reporting, the U.S. Federal Reserve (Fed) has been aggressively trying to keep inflation in check by hiking interest rates.<\/p>\n

As a consequence, risk-on markets have been trending lower. If the September 12th<\/sup> CPI print maintains its July trend to the downside, the Fed might hint at some relief on its monetary policy. This could allow the BTC price and other cryptocurrencies to regain their bullish momentum.<\/p>\n

Related Reading: Bitcoin Diamond Hands: Long-Term Holder Supply Surges Up To Near ATH<\/a><\/strong><\/div>\n

In a recent report trading desk QCP Capital noted a reduction of long positions (blue line in the chart below) by institutions as they increase their shorts (purple line below). This hints at what these entities expect for the short term. The trading desk said<\/a>:<\/p>\n

The showdown between macroeconomic conditions and market positioning will come as soon as September determining whether bearish macro forces play out as the market hopes, or whether we are setting ourselves up for a squeeze of historic proportions.<\/p><\/blockquote>\n

\"Bitcoin
Institutions going short as shown by the purple line below. Source: QCP Capital<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is showing weakness as BTC price trades in a tight range, the number one crypto by market cap saw a small uptick in volatility during today\u2019s trading session. However, the price action was smothered by poor performance in traditional equities. Related Reading: CAKE Sets Sights For $5 After More Than 7 Million Tokens Are Sent To A Fiery Death At the time of writing, BTC price trades at $19,00 with a 4% loss in the last 24 hours and a 3% loss over the past week. As Bitcoin trends lower into support, the momentum indicator follows suggesting there is little conviction to resume bullish momentum. BTC Price Liquidity Trends To The Downside As Bitcoin Loses $19,000 Levels In the coming two weeks, the crypto market will go through a major milestone with Ethereum\u2019s \u201cMerge\u201d. The second crypto by market cap will complete its transition to a Proof-of-Stake (PoS) consensus. As a result, ETH price has been outperforming BTC price. \u201cThe Merge\u201d is scheduled for mainnet deployment between September 13th to 15th, this event is bound to bring volatility into the market. Today, Ethereum core developers announced the successful implementation of the \u201cBellatrix\u201d update. A few hours later, the BTC price broke below a critical support zone and trendline created since the August bullish price action. Data from Material Indicators shows liquidity in the orderbook for crypto exchange Binance has been getting thick to the downside. As the price of Bitcoin trends lower, liquidity followed and sits near the cryptocurrency\u2019s yearly lows between $17,600 to $18,000. In the meantime, all investors class have been selling into the price action, from retail to large investors. If today is any indicator of what traders should expect from \u201cThe Merge\u201d, and bulls can support BTC price’s current levels, the cryptocurrency might take another leg down into the pool of bids shown in the chart above. Next critical support levels sit at $17,000 and $16,000. For a deeper dive into “The Merge” and its potential implications for the price of Ethereum, check out the analysis from our Editorial Director Tony Spilotro. Institutions Go Short, BTC Price Doom To Re-Test Yearly Lows? The second major catalyst for the crypto market will take place during \u201cThe Merge\u201d, the U.S. will publish its most recent Consumer Price Index (CPI) that will provide more clues into the country\u2019s inflation. As NewsBTC has been reporting, the U.S. Federal Reserve (Fed) has been aggressively trying to keep inflation in check by hiking interest rates. As a consequence, risk-on markets have been trending lower. If the September 12th CPI print maintains its July trend to the downside, the Fed might hint at some relief on its monetary policy. This could allow the BTC price and other cryptocurrencies to regain their bullish momentum. Related Reading: Bitcoin Diamond Hands: Long-Term Holder Supply Surges Up To Near ATH In a recent report trading desk QCP Capital noted a reduction of long positions (blue line in the chart below) by institutions as they increase their shorts (purple line below). This hints at what these entities expect for the short term. The trading desk said: The showdown between macroeconomic conditions and market positioning will come as soon as September determining whether bearish macro forces play out as the market hopes, or whether we are setting ourselves up for a squeeze of historic proportions.<\/p>\n","protected":false},"author":535,"featured_media":501251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790],"class_list":["post-501249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\nCrypto Setting Up For Squeeze, Will BTC Price Get In The Way?<\/title>\n<meta name=\"description\" content=\"Bitcoin is showing weakness as BTC price trades in a range, the number one crypto by market cap saw an uptick in volatility 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Market Setting Up For \u201cSqueeze Of Historic Proportions\u201d, Will BTC Price Get In The Way?","url":"http:\/\/uniquehot.com\/news\/crypto-market-setting-up-for-squeeze-of-historic-proportions-will-btc-price-get-in-the-way\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/crypto-market-setting-up-for-squeeze-of-historic-proportions-will-btc-price-get-in-the-way\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-BTC-Price-BTCUSDT.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-BTC-Price-BTCUSDT.jpg?fit=640%2C426"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt"],"dateCreated":"2022-09-06T19:11:38Z","datePublished":"2022-09-06T19:11:38Z","dateModified":"2024-06-11T14:23:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Market Setting Up For \\u201cSqueeze Of Historic Proportions\\u201d, Will BTC Price Get In The Way?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/crypto-market-setting-up-for-squeeze-of-historic-proportions-will-btc-price-get-in-the-way\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/crypto-market-setting-up-for-squeeze-of-historic-proportions-will-btc-price-get-in-the-way\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Bitcoin-BTC-Price-BTCUSDT.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Bitcoin-BTC-Price-BTCUSDT.jpg?fit=640%2C426\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2022-09-06T19:11:38Z\",\"datePublished\":\"2022-09-06T19:11:38Z\",\"dateModified\":\"2024-06-11T14:23:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Bitcoin-BTC-Price-BTCUSDT.jpg?fit=640%2C426","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/501249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=501249"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/501249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/501251"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=501249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=501249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=501249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}