Analysts say Bitcoin’s choppy price action is ‘typical of low liquidity markets’ By Cointelegraph

 Analysts say Bitcoin’s choppy price action is ‘typical of low liquidity markets’ By Cointelegraph

Analysts say Bitcoin’s choppy price action is ‘typical of low liquidity markets’

On July 9 and the wider cryptocurrency market saw a moderate relief rally that helped recover some of the losses seen on Thursday but a handful of analysts continue to caution that BTC could still drop to the $24,000 to $29,000 range in the short-term.

Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin was bid higher during the morning trading hours on Friday and managed to climb back above $34,100.

daily chart. Source: TradingView
Bitcoin entities net growth. Source: Glassnode