Such fluctuations do not contribute to improving the mood of crypto investors. On the contrary, the corresponding index fell to 25, on the verge of extreme fear territory. At current levels, the rule of ‘buy when everyone is afraid’ may work, or there may be a switch to a more intense sell-off after three months of stagnation.
Bitcoin rose to $114K on Tuesday, touching the 50-day moving average, but this only fueled sellers. Bitcoin has been balancing the 50- and 200-day MA for the last eleven days. The latter curve is pointing upwards, reducing the space for free fluctuations and bringing the moment when the market will have to choose a direction closer.
Crypto News
Bitcoin’s bullish phase is not over yet, according to the creator of the S2F model and analyst Plan B. The fundamentals point to continued growth, and there are no key technical signals indicating a final bull market phase.
According to BTSE COO Jeff May, market volatility will continue. TD Cowen remains positive about BTC and forecasts the asset to grow to $141,000 by December.
