Bitcoin hodlers show signs of change as BTC price action lingers at its highest levels since mid-2022.
A "significant" shift in Bitcoin hodler sentiment provides the backdrop to BTC price action clinging to its highest levels in 18 months.The largest cryptocurrency has fought off sell pressure to seal another impressive weekly close.
A short trading week on Wall Street will mean an extended period of “out-of-hours” trading next week, allowing crypto to potentially see more volatile moves into the next weekly close. For the meantime, however, more conservative approaches remain. Among them is popular trader Crypto Tony, who over the weekend told X subscribers not to bet on bulls sweeping through resistance.
Previous comments have directed markets away from expecting a pivot in rates policy until well into next year. Per data from CME Group’s, bets for the outcome of the next rates decision, due in just over one month, are for a repeat pause.“All attention remains on the Fed,” financial commentary resource The Kobeissi Letter wrote in X comments on the upcoming macro diary.Kobeissi added that volatility may continue in the coming days on the back of turbulence on bond markets.
As noted by James van Straten, research and data analyst at crypto insights firm CryptoSlate, last week was especially significant for hash rate — the estimated combined processing power dedicated to the network by miners.As Cointelegraph reported, one theory which calls for the trend to continue into next year’s block subsidy halving revolves around miners’ own goals.
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