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CryptoIntelligence 2024-08-08 08:00:00

Bitcoin Traders Worried About Lack of ‘Large Buy Walls’

At the Aug. 7 Wall Street open, Bitcoin (BTC) hovered around $56,000, raising concerns over a lack of support. Data from Cointelegraph Markets Pro and TradingView showed BTC’s price rebound stalling, with BTC/USD remaining flat compared to the daily open. Despite being up by around $7,000 from the six-month lows on Aug. 5, market observers remained worried amid uncertainty. Analyzing exchange order book conditions, trading resource Material Indicators suggested that Bitcoin’s price direction could go either way based on current buy and sell liquidity. “The amount of BTC ask liquidity between here and the CME Gap fill is significant, but

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