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Analysts say Bitcoin range ‘consolidation’ is most likely until a ‘macro catalyst’ emerges

Published 07/11/2022, 05:15 PM
Updated 07/11/2022, 07:00 PM
Analysts say Bitcoin range ‘consolidation’ is most likely until a ‘macro catalyst’ emerges
BTC/USD
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BTC/USD
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From a historical perspective, the loss in value realized across the cryptocurrency market over the past several months has been one for the record books and the total cryptocurrency market cap has declined from $3 trillion to $991 million.

June was especially painful for investors after the price of Bitcoin (BTC) fell nearly 40% to mark one of its worst calendar months on record according to a recent report from cryptocurrency research firm Delphi Digital.

BTC/USD monthly candles vs. MoM% change. Source: Delphi Digital
DXY index YoY% change vs. BTC/USD price YoY% change. Source: Delphi Digital
BTC/USD price-performance 1-week chart. Source: Delphi Digital
BTC/USD price vs. realized P/L ratio. Source: Delphi Digital
BTC/USD price vs. Fear and Greed Index. Source: Delphi Digital

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