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Bitcoin holds off on Santa rally as fund forecasts a new year 'short squeeze'
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Bitcoin (BTC) stayed rangebound after hitting ten-day highs on Dec. 22 amid fresh warnings over market "complacency."
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it consolidated after coming within $400 of $50,000 overnight.
Bulls were up against a significant sell wall around the psychologically significant level, with analysts calling for $50,500 to hit and hold in order to flip positive on short timeframes.
"Today the seas will be parted making way for a shot at a higher low on BTC," popular trader Pentoshi tweeted in a characteristic social media post.
While the "Santa rally" has so far evaded both crypto and traditional markets, looking ahead, some were betting on a turnaround over the new year period.
For
Read more on cointelegraph.comAbout this in other media
Cryptocurrency Prices Today: Markets ring the new year in red as Bitcoin, Solana fall moneycontrol.com /2 years ago
Cryptocurrency Prices Today: Markets ring the new year in red as Bitcoin, Solana fall moneycontrol.com /2 years ago
Bitcoin price reverses gains on New Year’s Eve; hodlers continue stacking sats cointelegraph.com /2 years ago
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