• Bitcoin (BTC) attempted to flip $25,000 to support, but was rejected and returned below $24,750.
• Wall Street’s arrival led to three days of “out-of-hours” trading with lower liquidity and more risk of volatility.
• Whale traders on exchanges tried to move the market with mass bid and ask liquidity.
Bitcoin Faces Rejection at $25K
Bitcoin (BTC) attempted an attempt to flip $25,000 to support which failed and resulted in the price of BTC/USD falling back below $24,750. This maintained a trading range in place throughout the weekend.
Thinner Liquidity During ‘Out-Of-Hours’ Trading
As Wall Street opened on Feb 20th, Bitcoin faced three days of “out-of-hours” trading which featured thinner liquidity and more risk of volatile moves up and down. These attempts to break past the prior week’s highs met rejections from both long and short traders.
Whale Traders Move Market With Mass Bids & Asks
Monitoring resource Material Indicators tracked flash volatility coming from whale traders on exchanges attempting to move the market with mass bids and asks. 2500 BTC was found stacked between $24.8–25.3K on the BTC/USDT pair according to popular trader Daan Crypto Trades.
Market Watchers Track Bid & Ask Ladders
FireCharts shows ask liquidity laddered up to ~$26.5k while bids above $24k look for another attempt at retesting $25k resistance level .
Volatility Returns as Bitcoin Rejects New Highs
Bitcoin sees fresh rejection at its new six month high around $25K as pre-Wall Street volatility returns. Despite flash volatility from whale traders attempting to move the market with mass bid and ask liquidity, Bitcoin has yet again been unable to break past this resistance level as it returns lower before Wall Street open