Bitcoin (BTC) is going through a sideways price action, while sending out confusing signals on its potential direction. BTC traded at $36,852.88 mid-week, after setting a trend of sinking prices during the weekend. <\/p>\n\n\n\n
The price showed some strength after expanding above $37,300. In the past weeks, BTC revisited the $40,000 range but slid back on selling, raising questions on whether the price was overdue for a dip or another upward move.<\/p>\n\n\n\n
With cryptocurrency trading volumes<\/a> down to $32B in 24 hours, about a third of peak activity, BTC prices<\/a> are entering a stage of reassessment. The pressure on market prices may come from recent purchases that happened close to peak prices, while expecting BTC to continue its climb to $100,000. BTC price moves remain unpredictable, with sudden spikes by hundreds of USD in value within minutes.\u00a0<\/p>\n\n\n\n The recent shakedown put BTC back in the $35,000 range, testing the portfolios of new buyers. Even some corporate purchases may be underwater. Currently, there are signs for newly acquired coins being sold back on the market. Yet some of the buyers have acquired coins at peak value, while sitting through the biggest BTC capitulation event in the history of trading.<\/p>\n\n\n\n