Summary
Bitcoin dropped on Tuesday after a period of low volatility, and traders anticipate further decline in the coming weeks. Ethereum remained relatively unchanged, while Optimism’s OP saw a 5% increase. B2C2, an over-the-counter market maker, noted a preference for buyers in recent weeks and predicts a short-term drop for BTC. With no immediate news and the ETF launch over, Bitcoin’s range could narrow, especially with Chinese New Year approaching. Analysts suggest that any potential flash-crash could be a good buying opportunity, particularly if the price falls towards $40,000.
Key Points
1. Bitcoin experienced low volatility and dropped on Tuesday, leading traders to anticipate further decline in the coming weeks.
2. Ethereum remained relatively stable, while Optimism’s OP saw a 5% increase in value.
3. B2C2, an over-the-counter market maker, noted a preference for buyers in recent weeks despite Bitcoin’s price staying within a narrow range. However, with no immediate news and Chinese New Year approaching, it is expected that Bitcoin’s short-term range could decrease. Crypto Finance AG analyst Matteo Bottacini sees any potential flash-crash as a buying opportunity, particularly if the price dips to around $40K.