Bitcoin (BTC) failed to reclaim recent losses into July 2 as traders prepared for stagnant price action to continue.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"Downtrend acceleration" still in force
Data from Cointelegraph Markets Pro and TradingView tracked a limp BTC/USD as it chopped around the $19,000 mark into the weekend.
The Wall Street trading week had finished without surprises, with United States equities practically stagnant — providing little impetus for crypto volatility. The U.S. dollar index, or DXY, fresh from a retest of twenty-year highs, ran out of steam to circle 105 points.
U.S. dollar index (DXY) 1-hour candle chart. Source: TradingViewOrder book data from largest global exchange Binance showed BTC/USD caught between buy and sell liquidity close to spot price, ensuring a lack of volatility until traders maneuvered or added significantly to bids or asks.
BTC/USD order book data (Binance). Source: Material IndicatorsZooming out, the outlook hardly seemed any more optimistic for bulls.

