{"id":1874,"date":"2022-01-27T07:31:55","date_gmt":"2022-01-27T07:31:55","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=1874"},"modified":"2022-01-27T07:31:56","modified_gmt":"2022-01-27T07:31:56","slug":"bitcoin-btc-pulls-relief-rally-stalls-at-36k","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/bitcoin-btc-pulls-relief-rally-stalls-at-36k\/","title":{"rendered":"Bitcoin (BTC) Pulls Relief Rally, Stalls at $36K"},"content":{"rendered":"\n<p>The expansion of Bitcoin (BTC) closer to $38,000 continued mid-week, while most altcoins also bounced from the lows. BTC reached $37.994.57, tentatively regaining positions on slow volumes of around $25B in 24 hours. BTC made a hike above $38,000 late on Wednesday, with <a href=\"https:\/\/tradersofcrypto.com\/coins\/ethereum\/\">Ethereum (ETH) above $2,600<\/a> once again.<\/p>\n\n\n\n<p>Later, <a href=\"https:\/\/tradersofcrypto.com\/news\/bitcoin-btc-above-37k-another-dip-possible\/\">BTC slowed down, moving down to $36,081.09<\/a> for a more modest recovery.<\/p>\n\n\n\n<p>The BTC expansion arrived with warnings of a possible bull trap and a renewed price drop ahead of the weekend, based on end-of-month futures expirations. The price trajectory of BTC could hinge on demand and the readiness to rebuild demand.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> (1D); price is bouncing off the demand zone around $35k and should rally to $40k supply zone before we see further downside move. <br>Watch closely $35k and $30k demand zone as market could turn around at those zone and break through the downtrendline and pump to $70k <a href=\"https:\/\/t.co\/1PSekYMub9\">pic.twitter.com\/1PSekYMub9<\/a><\/p>&mdash; CRYPTO GENERAL \ud83d\udc51 (@DaCryptoGeneral) <a href=\"https:\/\/twitter.com\/DaCryptoGeneral\/status\/1486312244174598152?ref_src=twsrc%5Etfw\">January 26, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In the past day, open interest for BTC has shown weakening on the <a href=\"https:\/\/tradersofcrypto.com\/exchanges\/binance\/\">Binance futures markets<\/a>, underscoring the low-volume recovery and still tentative sentiment. Since the Monday price crash, the Crypto Fear and Greed Index recovered from 13 points to 23 points, alleviating the fear level. However, the index reflects trading behavior and not actual long-term sentiment, thus not removing the risk of another downward move.\u00a0<\/p>\n\n\n\n<p>The latest price dip has some resemblance to the crashes in the summer of 2021, and possibly the crash of March 2020. In the short term, the market may be sent to panic mode, as with a recent large deposit of BTC to the Binance exchange.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">This is a game whales play every time there is a big options close out. They make big deposits onto exchanges to scare the market and trigger a sell off\u2026 sorry chaps, we\u2019re not falling for it! <a href=\"https:\/\/t.co\/4Q1OcpbCD6\">https:\/\/t.co\/4Q1OcpbCD6<\/a><\/p>&mdash; Ran NeuNer (@cryptomanran) <a href=\"https:\/\/twitter.com\/cryptomanran\/status\/1486402353834119172?ref_src=twsrc%5Etfw\">January 26, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The exact selling pressure may become clearer at the end of January, after the end of month options expiration.<\/p>\n\n\n\n<p>Additional large-scale deposits also include ETH sent to exchanges.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8  53,079 <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&amp;ref_src=twsrc%5Etfw\">#ETH<\/a> (131,359,661 USD) transferred from unknown wallet to <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a><a href=\"https:\/\/t.co\/PImfnKpcgQ\">https:\/\/t.co\/PImfnKpcgQ<\/a><\/p>&mdash; Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1486232798801367042?ref_src=twsrc%5Etfw\">January 26, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>ETH is now steadily under 0.07 BTC with a trend to lose positions against the leading coin. So far, ETH has failed to fulfill expectations of rising above $5,000 or even going to $10,000.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"btc-returns-to-accumulation\"><strong>BTC Returns to Accumulation<\/strong><\/h3>\n\n\n\n<p>BTC reserves point that the peak of the cycle led to some selling from whales. The latest price slide, erasing nearly 50% of the price, may be returning buyers to accumulation.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Reserve Risk is a macro scale oscillator capturing aggregate investor behaviour, and has hit a 1yr low.<br><br>Low values of R-Risk are characteristic of mid-bear to mid-bull cycles, where prices are depressed, but HODLing dominates onchain.<br><br>Chart: <a href=\"https:\/\/t.co\/ZkSAHraCrS\">https:\/\/t.co\/ZkSAHraCrS<\/a> <a href=\"https:\/\/t.co\/LfmOPYCf59\">pic.twitter.com\/LfmOPYCf59<\/a><\/p>&mdash; glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1486168546556194822?ref_src=twsrc%5Etfw\">January 26, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The reserve ratio risk is not definitive for the direction BTC may take, and does not guarantee the price action will play out soon. Historically, the index shows not all buyers are ready to hold and sell near the peak.&nbsp;<\/p>\n\n\n\n<p>The Rainbow chart supports a similar buying behavior, as BTC is considered relatively cheap. However, attacks against the remaining leveraged positions may cause more volatile price moves in the coming days.&nbsp;<\/p>\n\n\n\n<p>Long and short open interest on the Binance exchange has almost evened out its ratio, after a day of more than 70% of long positions. Liquidations can happen in both directions, though the latest hike from $33,000 to $38,000 mostly affected short positions in the past day.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"binance-reopens-deposits-for-eu-traders\"><strong>Binance Reopens Deposits for EU Traders<\/strong><\/h3>\n\n\n\n<p>Despite the volatility, the Binance International exchange is still trying to be attractive for retail traders in the EU. Binance has now reopened SEPA deposits, allowing a new entry point and fiat on-ramp for retail traders.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> reopens EUR bank transfer via Single Euro Payments Area (SEPA).<a href=\"https:\/\/t.co\/SjghATkl3t\">https:\/\/t.co\/SjghATkl3t<\/a><\/p>&mdash; Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1486323628254048256?ref_src=twsrc%5Etfw\">January 26, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Binance is also the go-to exchange for fast swaps, though often for limited amounts. SEPA transactions open Binance to the Eurozone countries and other affiliated markets. However, local bank restrictions may work against all deposits to Binance bank accounts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"where-is-the-market-going-next\"><strong>Where is the Market Going Next<\/strong><\/h3>\n\n\n\n<p>Several altcoins continued to boost their positions and grow by leaps from the recent lows. <a href=\"https:\/\/tradersofcrypto.com\/coins\/solana\/\">Solana (SOL)<\/a> is on track to go over $100 again, despite erasing 28% in the past week. Polygon (MATIC) keeps closing in on the $2 level. Other altcoins have short-term volatile moves based on their potential to react more quickly to trading pressures.\u00a0<\/p>\n\n\n\n<p>The BTC recovery this time went ahead of the altcoin market, with some potential to signal an overall change of price direction at least in the short term.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">A lot of <a href=\"https:\/\/twitter.com\/hashtag\/altcoins?src=hash&amp;ref_src=twsrc%5Etfw\">#altcoins<\/a> are struggling to break the 6h 21 EMA resistance. While <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> and some already did it and looking to retest. I guess soon we will know if <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> is going for 41200$ taking the alts with it <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/bearmarket?src=hash&amp;ref_src=twsrc%5Etfw\">#bearmarket<\/a><\/p>&mdash; DopamineFXX (@DopamineFXX) <a href=\"https:\/\/twitter.com\/DopamineFXX\/status\/1486329785961918465?ref_src=twsrc%5Etfw\">January 26, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The dominance ratio of BTC, ETH and altcoins is moving to its previous levels, with ETH also marking a rapid upturn.<\/p>\n\n\n\n<p>This time, however, Terra (LUNA) was slow to recover and turned out to be one of the biggest losers. LUNA moved down to the $63 range, erasing 20% in the past week and continuing with price weakness.\u00a0<\/p>\n\n\n\n<p>Other big losers included meme coin Shiba Inu (SHIB), which is down another 20%. Dogecoin (DOGE) remains more resilient and is back up to $0.14 after regaining 5%. DOGE is on the verge of abandoning the top 10 of coins and has turned into a cautionary tale after its wild ride in 2021.<\/p>\n\n\n\n<p>Tether (USDT) is now the third-largest coin by market capitalization, after moving above Binance Coin (BNB). BNB sank to $382.98 after failing to recover the $600 range or move higher. BNB remains one of the important assets for DeFi and trading but is not immune to market shakedowns. USDT has not increased its supply recently, with the recent recovery happening on the back of stablecoins currently available on the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) recovered briefly above $38,000 after bouncing from lows. BTC returned to the $36,000 range with fears of another dip.<\/p>\n","protected":false},"author":3,"featured_media":1875,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[23,6,77,82],"class_list":["post-1874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-binance","tag-eth","tag-sol","tag-solana","entry"],"_links":{"self":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/1874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/comments?post=1874"}],"version-history":[{"count":0,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/1874\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media\/1875"}],"wp:attachment":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media?parent=1874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/categories?post=1874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/tags?post=1874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}