Uncertainties in the Bitcoin Market and Possible Signs of Decline

While Bitcoin continues to rise, despite a temporary recovery after the Fed’s interest rate decision, the price of BTC fell 1.10% to $66,256 in the past 24 hours. Market indicators are raising concerns about the sustainability of the rise and changing sentiment among investors. Some Indicators Warn About Overheating Tools such as CryptoQuant’s Bull-Bear Market Cycle Indicator indicate that the market is in a state of extreme overheating and raise doubts about whether the current surge is sustainable. Unrealized high profit margins of investors and JPMorgan’s report drawing attention to heavy buying and the likelihood of a correction for Bitcoin are increasing market risks. Market Observations and Analyst Comments Market observations point to increasing selling activity among Bitcoin investors and a tendency for large investors to sell. This draws attention to similar levels seen since May 2019 and indicates a potential change in investor sentiment. On the other hand, crypto […]

Uncertainties in the Bitcoin Market and Possible Signs of Decline

While Bitcoin continues to rise, despite a temporary recovery after the Fed’s interest rate decision, the price of BTC fell 1.10% to $66,256 in the past 24 hours. Market indicators are raising concerns about the sustainability of the rise and changing sentiment among investors.

Some Indicators Warn About Overheating

Tools such as CryptoQuant’s Bull-Bear Market Cycle Indicator indicate that the market is in a state of extreme overheating and raise doubts about whether the current surge is sustainable. Unrealized high profit margins of investors and JPMorgan’s report drawing attention to heavy buying and the likelihood of a correction for Bitcoin are increasing market risks.

Market Observations and Analyst Comments

Market observations point to increasing selling activity among Bitcoin investors and a tendency for large investors to sell. This draws attention to similar levels seen since May 2019 and indicates a potential change in investor sentiment.

On the other hand, crypto analyst Rekt Capital’s analysis suggests that Bitcoin’s recent decline is in line with the average retracements seen in the market and an 18% decline is normal. According to the analysis, Bitcoin has not yet begun a parabolic breakout rally and is in a phase of re-accumulation.

Rekt Capital also emphasizes the rarity and importance of the current retracement, as it is one of the five largest declines in the past year and a half.

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