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July Might Be The Month Of High Bitcoin Price Volatility - Exclusive Analysis.
2021-06-14 | Robin Williams
A combination of negative premium relative to identify and an outsized unlocking of funds means July will be particularly interesting for BTC price action. Previously, such an alignment has meant increased volatility.
Later on, 19th July will see the most important single unlocking day, with 16,000 BTC [$627 Mln] released.
For popular pseudonymous trader Loomdart, this nonetheless provides an opportunity for selling pressure to stabilize afterward, paving the way for BTC bulls to crush longstanding resistance lines.
This would form a refreshing counterpoint to the broadly bearish picture on institutional markets, with open interest in Bitcoin futures way down vs prior to the May price dip to $30k.
On-chain analytics resource CryptoQuant revealed that the decline in interest last week, something which, in turn, came in tandem with a dramatic decline in overall BTC transaction numbers.
