Commentators wait for excitement to return as BTC price action erases any trace of the week's volatility over a dull weekend.
remained firmly anchored at $19,000 through the weekly close on Oct. 16, despite warnings from analysts that volatility was long overdue.
Analyst:BTC volatility a "matter of time" According to Crypto Express Markets Pro and TradingView data, BTC/USD had a poor weekend, with the pair barely moving outside of business hours.
Bitcoin returned to its original position, and at the time of writing, it showed no signs of leaving its established range, despite the fact that the United States economic data sparked a series of typical fakeout events over the course of the week.
For trading platform Eight's founder and CEO, Michal van de Poppe, the question was not whether but when unpredictability would return to crypto.
Another well-known commentator, who goes by the pseudonym il Capo of Crypto, maintained that a bear market relief rally could see a $21,000 return before the downside continued. The week's macro figures were able to stoke a run to one-week highs for BTC/USD.
They expressed a belief that the "entire market" was about to gain in a Twitter update prior to the weekly close.
In a portion of a subsequent discussion regarding the outlook for the market, they added, "Capitulation will happen, but not yet."
As a result, Bitcoin was likely to end the second week of "Uptober" down 1.5% from the beginning of the month, its worst performance since 2018 and well short of its 40 percent gains in 2021.