Bitcoin hodlers will 'soon see why' $21.6K BTC price pump is fake — trader
— Chart, Price, Data, Market, Fake, Source, Bitcoin, Trader, Hodlers, Weekly — 1 min read
Bitcoin (BTC) spiked to one-week highs on July 17 amid warnings that traders should not trust current price action. The pair saw a fresh leg up during the weekend, this nonetheless coming on the back of thin, retail-driven "out-of-hours" liquidity with institutions out of the picture. With Bitcoin prone to "fakeout" moves both up and down in such conditions, there was little appetite to believe that current trajectory would endure as the weekly close loomed. Binance saw heightened inflows in the 24 hours to the time of writing, according to data still being compiled from on-chain analytics platform CryptoQuant, the most on a single day since June 22. Some commentators remained upbeat on the short-term outlook. Source