United

Bitcoin

Rekt (rektarb.xyz)

Rekt

James

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) price action comes full circle from highs of $65,300 amid stubborn trading range and weak US spot Bitcoin ETFs performance.</li>
 <li>Market analysts predict a longer period of overall Bitcoin price trend absence, but expect significant gains from altcoins.</li>
</ul>
<p>The price of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) has been sliding lower as the April 26 Wall Street opening approaches. This is due to familiar trading conditions that have kept bulls at bay.</p>
<h2 id="bitcoin-etfs-experience-a-rough-day">Bitcoin ETFs Experience a “Rough Day”</h2>
<p>Data indicates that the BTC price action has come full circle from highs of $65,300. This stubborn trading range continues to dominate the market amid concerning macroeconomic data and a weak performance from the United States spot Bitcoin exchange-traded funds (ETFs).</p>
<p>The ETFs saw net outflows exceeding $200 million the previous day, dashing what was initially a promising start to the week. James Seyffart, a dedicated ETF analyst, commented on the situation, stating that it was a “rough day” for the Bitcoin ETFs.</p>
<h2 id="bitcoin-s-market-dominance">Bitcoin’s Market Dominance</h2>
<p>With the overall mood in the crypto market being lackluster, some market participants have started to suggest that an overall Bitcoin price trend could be absent for a longer period. However, Michaël van de Poppe, founder and CEO of trading firm MNTrading, argued that altcoins would diverge significantly to deliver long-awaited gains.</p>
<p>Bitcoin’s dominance of the overall crypto market cap was around 55% on the day, having come down after peaking at 57% — its highest level in two years — on April 13.</p>
<h2 id="upcoming-bitcoin-price-lows">Upcoming Bitcoin Price Lows</h2>
<p>Popular trader and analyst Rekt Capital gave a two-week deadline for any more significant dips to occur. He explained that Bitcoin has entered the Post-Halving ‘Danger Zone’ and is very near the Range Low. If additional downside volatility below the Range Low is to occur, it would be during the next two weeks.</p>
<p>An accompanying chart compared behavior during the 2024 halving to historical norms.</p>

Expect Bitcoin’s Price to Dip in the Next Fortnight, Suggests Analysis

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