Bitcoin (BTC) declined equally Wall Street trading opened on Dec. 13 as stocks came off Dec. x's record close.

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

Information from Cointelegraph Markets Pro and TradingView showed BTC/USD diving beneath $48,000 to reach multi-day lows at the fourth dimension of writing.

Equities had been tipped to add to all-fourth dimension highs prior to the start of trading, this getting off to a common cold start on the day, with gains slipping.

Correspondingly, Bitcoin added to losses that totaled over $3,000 in 24 hours.

Traders thus connected to centre sideways or consolidatory movements for the near term, steering clear of any outright bullish calls.

"Something like this would drive people nuts," Scott Melker, known equally the Wolf of All Streets, commented on a fresh chart prediction.

"This is what I take been preparing myself for since the drop 10 days ago. I would prefer Up Merely, so let'due south hope that's what we get."
BTC/USD annotated chart. Source: Scott Melker/Twitter

Others had already chosen that limp price action would conclude 2022, this countered by on-concatenation metrics calling for a render to strength for markets.

"BTC may be repeating the consolidation menses information technology also experienced following its May 2022 crash," trader and analyst Rekt Capital added on the day.

He highlighted Bitcoin's 50-calendar week and 21-calendar week exponential moving averages as support and resistance levels, respectively.

Bitcoin preserves 40% market cap authorization

Altcoins looked bleak as Bitcoin fell, fueling suspicions that the return of "altseason" may have to wait.

Related: 'I think BTC is prepare' — 5 things to watch in Bitcoin this week

Bitcoin market cap dominance, while hovering almost six-calendar month lows, managed to bounce back to a higher place 40% afterward a brief breakdown on Dec. ix.

The latest motility further threatened the stronger outliers in the altcoin story in contempo weeks, notably the commutation charge per unit of Ether (ETH) against Bitcoin, which reversed from iii-year highs to challenge new back up.

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

"Overall, but a small conclusion, I think we are in buy-the-dip zones," Cointelegraph correspondent Michaël van de Poppe argued regarding the broader major-cap altcoin scene in his latest YouTube update.