Bitcoin cannot escape its correlation from traditional markets Short-term sentiment was caught in between declining optimism and increasing gloom Bitcoin [BTC] has had an affinity with monetary policy since the advent of the new market cycle, according to Quantum Economics expert and on-chain analyst Jan Wüstenfeld. In his 4 December CryptoQuant publication, Wüstenfeld opined that […]
Short-term sentiment was caught in between declining optimism and increasing gloom
has had an affinity with monetary policy since the advent of the new market cycle, according to Quantum Economics expert and on-chain analyst Jan Wüstenfeld. In his 4 December CryptoQuant, Wüstenfeld opined that BTC’s negative sentiment, accompanied by declining economic prospects, was no random occurrence.According to him, BTC and the traditional market were not aligned before the current bear market.
Despite the faith that Bitcoin would remain relevant for long, on-chain data showed that the current bias was negative. According to Santiment, the positive sentimentHowever, the chart showed that negative sentiment was on the increase, while positive sentiment declined. Hence, there was a chance that short-term bullish expectations differed from the day’s order.In addition, investors’ recent action was less likely to trigger a significant reaction from BTC.
According to Glassnode, there was a close call between exchange inflow and outflow. The on-chain monitoring platform reported the outflow to be $3.3 billion, while the inflow was $3.2 billion.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin: A drop in these holders could mean trouble for BTC because….Bitcoin whales drop to a new two-year low Bitcoin also showed resistance at the $17,000 level Bitcoin [BTC] managed to bounce back above the $17,000 price range. While the current expectation was that it might continue to rally, whale activity suggested otherwise. According to a recent Glassnode update, the number of Bitcoin whales have been […]
Read more »
![Can Bitcoin [BTC]’s latest price action give investors a December to remember](https://i.headtopics.com/images/2022/12/5/cryptoamb/can-bitcoin-btc-s-latest-price-action-give-investo-can-bitcoin-btc-s-latest-price-action-give-investo-1599593149562748933.webp?w=640)
Can Bitcoin [BTC]’s latest price action give investors a December to rememberCryptoQuant’s analysis suggested a possible market button for BTC Market indicators and metrics looked bullish Bitcoin [BTC] registered upticks over the last week, but its price remained lower than expectations. At press time, BTC’s price had increased by nearly 3% over the past seven days. Furthermore, BTC was trading right above the $17,000 mark at […]
Read more »
Bitcoin Dec. 5 daily chart alert - Bulls working on price uptrend
Read more »
Opinion | Why Elon Musk’s tussle with Apple sums up the strange times we live inIt started with a meme and ended with what turned out to be a lie. That is at once both an accurate summation of Elon Musk’s Twitter’s faux-tussle with Apple, and also an encapsulation of what strange times we live in. Opinion by navalang
Read more »
Fantom: The ‘but’ in FTM’s recent rally and why traders should maintain cautionFantom has a new proposal to reduce its current burn rate FTM’s price has rallied by 30% in the last week Fantom’s [FTM] witnessed a 30% rally in the last seven days following the publication of the proposal to reduce the network’s current burn rate. Read Fantom’s [FTM] Price Prediction 2023-24 Per data from CoinMarketCap, FTM […]
Read more »
Get Up and Grow: Why poinsettia's are referred to as the official plant of ChristmasIn this segment of Get Up and Grow, Hannah Lepine and Gord Nickel talk about poinsettias, one of the most popular holiday plants.
Read more »