# Bitcoin’s 60% Rally From July Lows May Be Running Out of Steam

By [Untitled](https://paragraph.com/@0x90948e543580000d16dc8bf45454f80a625393b6) · 2022-07-23

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The largest cryptocurrency fell as much as 4.9% Thursday to $46,322, with other tokens including Ether retreating along with the Bloomberg Galaxy Crypto Index. The drop pared Bitcoin’s rally from a July 20 low to about 60%.

Bitcoin was trading at $47,342 as of 10:10 a.m. in New York.

John Bollinger, inventor of Bollinger bands, in a tweet suggested taking some profits or hedging. Katie Stockton at Fairlead Strategies cited DeMark market-timing indicators as flagging about two weeks of “sideways-to-lower” prices.

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*Originally published on [Untitled](https://paragraph.com/@0x90948e543580000d16dc8bf45454f80a625393b6/bitcoin-s-60-rally-from-july-lows-may-be-running-out-of-steam)*
