Bitcoin “Double Top” Narrative Builds, Factors To Potentially Fear
Bitcoin price is in a precarious location. The asset set a new all-time high just days ago but is trading below the record and starting to decline. The shifting momentum is now presenting in technical indicators supplying bearish signals, adding to the double top narrative that’s been building since failing to break $20,000. Here are […]
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More demand could just mean bigger correlations to traditional markets, the bank’s researchers say. Bitcoin (BTC) and cryptocurrency adoption may not necessarily make its price higher in dollar terms, Goldman Sachs argues.In a note seen by Bloomberg published Thursday, the international banking giant claimed that mainstream acceptance of crypto assets would increase their correlation to other mainstream asset classes.Goldman: Adoption is a “double-edged sword”In a view contrary to that of many Bitcoin proponents, Goldman sounded firmly uninspired by the prospect of crypto as a tool for the....
A strong sense of deja vu is palpable from comparing Bitcoin's last bear market to this one, Stockmoney Lizards suggests. Bitcoin (BTC) is delivering striking similarities to its last bear market but the recent bottom may be its last, research says.In a tweet on Oct. 31, popular trading account Stockmoney Lizards furthered the bull case for BTC/USD.Bitcoin "repeats itself" in 2022The past few days have seen talk of Bitcoin encountering a “double top” with two spikes over $21,000. The implication is bearish — declining volume suggests that bulls will not be able to flip the level to....
Data shows that Bitcoin investors may be close to embracing greed as market sentiment has surged into neutral territory. Bitcoin Fear & Greed Index Points At Neutral Trader Sentiment The “Fear & Greed Index” is an indicator that tells us about the general sentiment among the investors in the Bitcoin and wider cryptocurrency sector. According to the index’s creator, Alternative, the metric takes into account multiple factors for calculating this sentiment. The five factors it currently uses in the indicator’s value are namely: volatility, trading volume, social media....
Bitcoin price action is just 20% from all-time highs, but the market has reentered "extreme fear" for the first time since $43,000. Bitcoin (BTC) has stabilized at around $55,000 after dropping by $6,000 in a single day — but crypto market sentiment is still in shock.According to the Crypto Fear & Greed Index, as of Nov. 27, emotions are now at the most fearful since late September.Crypto sentiment dives into "extreme fear"Fear & Greed, which takes a basket of factors to compute a standardized sentiment score for crypto markets from 1-100, currently sits at 21.Friday took its toll on the....
Bitcoin has been spiraling lower ever since it tapped its all-time highs within the mid-$19,000 region There are a few factors driving this move lower, including selling pressure stemming from the rejection, fear regarding a regulatory crackdown in the U.S., and withdraws on OKEx resuming The confluence of these factors has created a perfect storm for bears, and they appear to be taking full advantage of it One trader believes that Bitcoin has quite a […]