In his latest tweet, veteran trader John Bollinger claims that the cryptocurrency market could be entering “a new regime.”
The famed analyst—who is known for developing the “Bollinger Bands” technical indicator—has spotted some “unusual” trading patterns.
Trading patterns in crypto recently are quite unusual. Can't help but wonder if we are entering a new regime?
— John Bollinger (@bbands) July 7, 2021
Bitcoin has been range-bound for the past two weeks, with the bulls so far failing to break through heavy resistance at $36,000.
However, plenty of DeFi coins, including Aave, Compound, Synthetix, have recently soared more than 20 percent, according to CoinMarketCap data.
As reported by U.Today, a J.P. Morgan analyst said that crypto king’s dominance revisiting 50 percent would be healthy for the market.
Bitcoin is currently trading down 49 percent from its April peak.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov