Bitcoin’s price may not experience significant downward movement in the short term, as sell-offs on crypto exchanges are “shrinking at a rapid pace,” Bitfinex analysts say.
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Bitcoin’s daily realized profit metric has fallen 76% after the initial hype about $100,000 Bitcoin began to wane off, according to crypto analysts.
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An analyst says Bitcoin’s correlation with the global M2 suggests it could imminently drop 20%, but not all observers agree.
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Bitcoin has surpassed Ethereum’s market capitalisation by over $1 trillion and one crypto analyst pointed out it is a new all-time high “for the spread.”
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A crypto trader argued that it is easy for crypto market participants to be “convinced sentiment is one way or the other,” while claiming that the sentiment is not “that bullish currently.”
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Bitcoin’s consolidation around $60,000 has investors sidelined, with a new price range needed to spark activity, according to an analyst.
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A “substantial bull market” is needed to avoid VC funds drying up after too much money was allocated to funds “clearly underperforming benchmarks,” a crypto analyst says.
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A crypto analyst says that we haven’t seen this altcoin season because traders keep buying memecoins too early.
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Bitcoin miners are not “full-scale bear market level capitulating,” according to a crypto analyst.
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Santiment’s Bitcoin social sentiment indicator has been flashing red as the price of Bitcoin has been hovering around the $65,000 mark.
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