$31.5K Bitcoin price on track for lowest weekly close of 2021

Bitcoin (BTC) was well on its way to losing nearly $ 3,000 this week as a weekend of mixed price behavior came to an end.

BTC / USD 1-hour candle chart (Bitstamp). Source: TradingView

Trader hopes for last minute BTC price volatility

Data from Cointelegraph Markets Pro and TradingView showed that late Sunday BTC / USD trading was just above $ 31,500 – a potential weekly candle of $ 2,800.

BTC / USD 1-week candle chart (Bitstamp). Source: TradingView

The weekend came as little surprise as Bitcoin was within a predictable range after seeing its first brief surge above $ 32,000 on Friday.

Although Bitcoin maintained the $ 31,000 support and has not retested $ 30,000 so far, Bitcoin was still on track to hit its lowest weekly close since December 2020.

While some traders and analysts expressed their dissatisfaction with the spot price movement two months floating in the same area, others still aware of the possible disturbance.

“I wouldn’t be surprised if we got a random move on Bitcoin in the last 2-3 hours of this weekly candle,” Michaël van de Poppe told Twitter followers.

Sunday marked the date of the greatest in a Series of unlocks at the Grayscale Bitcoin Trust ($ GBTC). An event anticipated with nervousness by many, the obvious impact of which on price behavior was not yet apparent at the time of writing.

GBTC unlock plan. Source: Bybt

Altcoins will include losses

Altcoins looked similarly lackluster on Sunday, with many of the top fifty cryptocurrencies by market cap posting Bitcoins -8% losses every week.

Connected: Bitcoin sees the second longest decline in the bull market, with BTC price stuck at $ 30,000

Ether (ETH) hovered at $ 1,900, still free from a support zone of about $ 100 lower, while Amp (AMP) saw daily gains of 12%.

ETH / USD 1-hour candle chart (Bitstamp). Source: TradingView

The cryptocurrency’s total market cap was $ 1.294 trillion, with Bitcoin accounting for 45.9%, slightly lower than Friday.