Accéder au contenu principal

How Low Will The King Of Crypto Crawl Before Its Roaring Return?

Bitcoin, the leading cryptocurrency, finds itself at a critical juncture as several key metrics point towards a possible price downturn.

Over the past few weeks, Bitcoin has experienced a downward trend, with its value plummeting below the $42,000 mark after briefly touching $48,000 on January 11th.

Caution Signals Flash As Crypto Metrics Shift

One of the prominent metrics signaling caution is the Fear and Greed Index, which currently stands at 52, reflecting a neutral sentiment in the cryptocurrency market. However, historical patterns indicate that when the index enters the greed zone, a price correction often follows.

 

Further exacerbating concerns is the Network Value to Transactions (NVT) Ratio. This ratio, which serves as a measure of asset valuation, has seen a significant surge recently, implying a potential overvaluation of the cryptocurrency.

Such a development raises questions about the sustainability of the current price levels and invites scrutiny regarding a possible correction.

 BTC Exchange Reserve. Source: Cryptoquant

Adding to the apprehension, Bitcoin’s trading volume has witnessed a decline, indicating waning investor interest. CoinMarketCap data reveals diminished trading activity, suggesting a cooling off period for the cryptocurrency.

This sentiment is echoed by Glassnode’s findings, which show a substantial increase in BTC deposits on exchanges. The influx of coins being deposited signifies mounting selling pressure on the cryptocurrency, further fueling concerns of a potential price decline.

Source: Coinglass

Bitcoin Massive Sell-Off From Investors

Compounding the cautious outlook, Bitcoin’s aSORP (average Spent Output Profit Ratio) has dipped into negative territory. This indicates that a larger number of investors are selling at a profit, which often acts as a bearish signal and may suggest the possibility of a market top.

Turning attention to the derivatives market, Bitcoin’s taker buy/sell ratio currently leans towards selling sentiment, as denoted by its red status.

Additionally, BTC’s Futures Open Interest has remained relatively stagnant, hinting at a market characterized by sluggish movement and limited trading activity.

BTCUSD slightly above the $41K level today. Chart: TradingView.com

While it is essential to acknowledge the dynamic nature of cryptocurrency markets, the convergence of these metrics warrants careful consideration among Bitcoin investors.

The combination of a neutral Fear and Greed Index, an elevated NVT Ratio, increased selling pressure, and bearish signals in the derivatives market paints a challenging outlook for the cryptocurrency in the near term.




Source link

The post How Low Will The King Of Crypto Crawl Before Its Roaring Return? appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite

Earn BIG Commissions in 2023

In this post, we’re looking at the best niches for affiliate marketing . So, if you’re struggling to choose a niche for your blog or YouTube channel, this list will help. In this list, you’ll learn some key information to help you determine which is the right niche to choose for you. Information like: How big the niche is and its market share The products you can promote Sub niche ideas And some commission rates you can expect Keep reading. Best Niches for Affiliate Marketing We’ve researched and broken down 21 of the best niches for affiliate marketing, so you don’t have to. Let’s dive in. 1. Artificial Intelligence The Artificial Intelligence industry has exploded in recent years and is projected to be valued at close to US$2 trillion by 2030. That’s what makes this one of the best niches for affiliate marketing today. There is also a wide range of AI tools to promote with generous commissions. For example, LinkWhisper is an AI content optimization tool for SEO of...
Enregistrer un commentaire
Lire la suite