Market Sentiment Crumbles As Sell-Offs Drags Bitcoin To $33,000
The current market crash is no doubt one of the hardest to hit in recent times. Bitcoin as well as other digital assets have suffered massive dips as a result of the crash. For Bitcoin, the pioneer cryptocurrency has had more than 50% of its all-time high shaved off in the last two months. This has caused it to hit new six-month lows as its price crashes to $33,000 for the first time since the summer. Market sentiment has since nosedived in accordance with the movement of the market. As investors become increasingly wary of the market, more so than it was during the crash in May, sentiment....
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The bitcoin crash rocked the market to its core when the digital asset had lost over 50% of its all-time high value to bottom out at $33,000. It was as a result of market sell-offs across the financial space, sparking a ripple effect that was felt heavily in the crypto market. Market sentiment had crumbled during this time as investors had scrambled to sell their holdings. However, not everyone saw the declining prices as a signal to sell before prices tank even more. Whales, who control a large portion of the circulating supply, took this as a cue to buy and have been filling their bags....
Cryptocurrencies all across the market have been suffering major downside since the crash. The crypto market saw a couple of hundred billions shaved off its market cap following this. Bitcoin, Ethereum, and others have all seen their value decline significantly in the space of a week. However, in all of this, some digital assets have been hit harder than others. This report takes a look at those cryptocurrencies. Metaverse Tokens Take A Hit The crypto market’s recent decline has been characterized by bloody streets. As expected, bitcoin’s 52% decline from its all-time high has dragged down....
There have been multiple sell-off trends recorded in bitcoin since the crash in December 2021. These sell-offs have been responsible for the decline in prices recorded in the digital asset over the last couple of months. Naturally, sell-off trends can be recorded on their magnitude depending on when the trading hours of a particular region are open. This time around, it seems that macro pressure on the U.S. market has been the culprit. U.S. Traders Drive Sell-Offs The sell-offs of the past two months have been especially brutal and have dragged down the year-to-date values. However, it....
The crypto market sentiment had taken a beating when the price of bitcoin fell to a new cycle low of $17,600. With this, investor sentiment had plummeted to new yearly lows. But slowly, the market sentiment had recovered and made its way out of the extreme fear territory. That is until now when the market sentiment has recorded an enormous push upward off the back of another market rally. Sentiment Turning Green The crypto market sentiment has been on an uptrend since the recovery started back in July. When the price of bitcoin first hit $24,000 for the first time since the market trend,....
Bitcoin bulls should brace for a bearish impact as three of the leading on-chain indicators unanimously warn about potential sell-offs in the spot market ahead. CryptoQuant, a South Korea-based blockchain analysis firm, highlighted the latest readings on their proprietary metrics, one of which studies large BTC outflows from miners’ wallets and the other over-the-counter BTC […]