When Bitcoin price action is sideways and directionless for the better part of a year, bulls and bears argue over which direction will be ultimately chosen. However, considering macro conditions like rising interest rates, a sinking stock market, and mounting ting debt, bears aren’t ready to throw in the towel. But they might want to after seeing this chart. Bitcoin Price Chooses A Direction: Up And Away Bitcoin and other cryptocurrencies are normally notoriously volatile. But volatility has dwindled to next to nothing since the FTX collapse struck. Few have been willing to take the risk on BTC and altcoins while macro conditions are this on the edge of collapse. It resulted in a big move off the bottom, but also more than six months of consolidation and confusion. Related Reading: Why Bitcoin Price Could Double To $60K In A Flash But after several months of sideways price action, Bitcoin appears to have chosen a direction and broke out to form a new trend. Bears, however, remain stubbornly short per market sentiment. Bearish traders mi ..
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