Bitcoin experienced volatility on January 15 following an analyst’s warning about order book liquidity. TradingView data showed Bitcoin’s price nearing $43,000 before volatility resumed. These price movements occurred on a day when Wall Street was closed, leaving the market prone to irregular price actions.
Analyst Skew alerted followers that spot markets lack sufficient depth for stability in lower timeframes, expecting a sudden $1,000 price candle to emerge. Skew also noted that the $43,000 price movements were driven by the futures market and likely unsustainable.
Meanwhile, analyst Matthew Hyland predicted the recovery from the previous week’s 15% drop in BTC/USD might take over a month. Hyland suggested that Bitcoin could trade sideways for a while, as similar weekly red volume patterns in the past led to 3-4 weeks of horizontal price movements. He added that a break in this pressure could benefit Ethereum and the altcoin market.
Hyland’s graph compared the recent panic sell-off with the atmosphere at the end of the 2022 bear market for Bitcoin. In contrast, Rekt Capital shared a potential roadmap for Bitcoin’s price movement before the April halving event, indicating that significant gains could show up around two months before the event, leaving little time for bears to induce a major drop.
Rekt Capital later assessed the BTC/USD pair on a weekly chart, despite recent volatility, suggesting a narrow trading range.