Looks like the bitcoin markets will end this week much like they came in, weak and uncertain.
There seem to be a few different factors that are negatively impacting the bitcoin markets today following what was a relatively encouraging weekend in terms of price action.
Despite North America having officially returned from the holidays today, traders likely won't get back into the full swing of things until Monday of next week.
Following what was a horrific start to this final week of June, the bitcoin markets over the past 12 hours have been surprisingly resilient in the face of what are very confusing technicals on multiple timeframes.
Surprisingly there hasn't been much action as a result of futures settlements so far this morning, although the muted response may be due to the bigger quarterlies expiration next Friday which should have more of an impact.
Despite a slight bullish bias within a range bound market over the weekend, it seems as though neutrality was the right call given price action was sporadic and unfavorable (at least from a risk/reward perspective).