According to Odaily, Bitcoin's recent price movements align with a pattern of increased activity during weekends, as traders take advantage of lower liquidity to influence the market. Cryptocurrency analyst WhalePanda noted on platform X that weekend price movements often experience full retracements. This observation highlights the volatility that can occur when trading volumes are reduced, allowing significant players to impact prices more easily.
Furthermore, Keith Allen, co-founder of Material Indicators, emphasized the importance of expecting some pullbacks during Bitcoin's price surges. He pointed out that weekends are typically a time for larger market participants, often referred to as 'whales,' to engage in trading activities. Allen also mentioned that the market is currently in a price discovery phase, which adds to the unpredictability of price movements. He stressed the importance of focusing on Bitcoin's weekly and monthly closing prices to gain a clearer understanding of its long-term trends.
