Bitcoin, Ethereum and most other notable cryptos appear to be in a comfortable, if kinda meh, ‘chop-solidation’ (chopping sideways) period for the moment. But some observers are predicting a breakout move soon.

The crypto market mover in chief, Bitcoin (BTC), is hovering just below US$28k, and has been trading pretty flat over the past seven days. This is reflected, too, in the popular sentiment tracker the Crypto Fear & Greed Index, which has been coasting in Neutral for the past several days, too.

 

Source: alternative.me

 

Apparently, the technical data supports this, too, with BTC’s price movement heading along sideways in an increasingly tight band – see the squeezing Bollinger bands in this “Titan of Crypto” post below – a technical analysis tool we were banging on about recently.

 

 

Let’s grab a bit more analytical nouse and opinion.

Here are the data analytics gurus Santiment, with a reminder that a LOT of BTC has been moving off exchanges lately, which can potentially/likely mean they’re ending up in cold storage for HODling. A good thing for the sentiment surrounding a price-strengthening narrative…

Meanwhile ‘TechDev’, he of 418k followers on Twitter/X, notes this:

 

… in which he also references the tightening Bollinger bands as they relate to the 200-month moving average – the upshot making this formation a potential precursor to a breakout move to the upside.

Then there’s ‘DonAlt’ (508k followers), who has something of a reputation for calling the bottom of the last bear market, last year. Recently he hasn’t been the most bullish on Bitcoin, we’ve noticed, but he appears to be open to flipping that script. On Bitcoin at least.

 

 

If Bitcoin can break the US$28k resistance it appears to currently be facing, DonAlt believes the bull goose crypto could rally to +$40k before too long.

 

 

Top 10 overview

With the overall crypto market cap at US$1.13 trillion, down a fraction since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

 

 

Around the blocks

Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.

Meanwhile, here’s a very quick take (from US-based economist/analyst Sven Henrich) on what the fresh, developing, shocking geopolitical turmoil in the world might mean for US Federal Reserve rate hiking, if anything…

 

 

And here’s another US-based chart watcher, Roman, who is keeping an eye on the S&P 500 and its potential move upwards against a potentially resistance-hitting US dollar. Hmm, we shall see.

 

 

FTX founder Sam Bankman-Fried is in the frying pan right now, staring down the barrel of a possible 115-year prison sentence for financial fraud crimes.

 

 

We’ll look to give you a few updates on that this week as things progress. But in the meantime, this was interesting. SBF was toying with the idea of paying Donald Trump not to run for president? For a US$5 billion fee?

That’s according to a US 60 Minutes interview with Michael “The Big Short Author” Lewis, that is…

 

Read MoreBitcoinCryptocurrency

You might be interested in