The vast majority of investors are expecting btc 10-15k$ and the longer we stay in our current range the more likely.
Whether it happens or not all depends on the number of shorters we can trap to make them buy higher
it also depends on the near term volatility of the S&P which in turn might take a clear path after the mid terms
That being said, the S&P still has little chance yet to have bottomed given the inflation context and the interest rates campaigns in the recent months.
It is well known that after IR hikes the S&P retraces 6 to 12 months later due to a lack of earnings which suggest the overall market bottom might be in 2023.
Now if the S&P retraces again and bottoms in 2023, you can bet btc will go lower if we stay in our range. Whether btc will bottom then or if it has already will depend on its capacity to bounce in the next 6 months, aka if we keep ranging and S&P corrects, btc will find a new bottom as opposed to btc could bounce to 25-30k in the next 6 months and not bottom as low as last June when S&P will find its true bottom in 2023
look at the last 20years of IR vs S&P
the pattern is pretty obvious.
