Bitcoin Bullish Sentiment Amidst Equities Surge Sopr Cryptoquant Recent upward movements in the equity markets have propelled a surge in bullish sentiment within the crypto market. both overall and short term sentiment amo. According to a cryptoquant analyst, bitcoin’s adjusted spent output profit ratio (asopr) is still looking bullish, which could be a faint signal of the crypto’s price reversing into bullish momentum.
Bitcoin Enjoying Strongest Bullish Sentiment In 16 Months Cryptoquant analysts said in an april 10 markets report that if bitcoin (btc) “continues to rally,” it could hit resistance around the $84,000 price level, but if it breaks through, it could. Bitcoin’s bull cycle has come to an end, and the market may see 6 to 12 months of bearish or sideways movement, according to cryptoquant ceo ki young ju. ju pointed to on chain metrics that indicate a shifting trend. According to him, on chain metrics such as mvrv, sopr, and nupl are signaling a bear market. he added that fresh liquidity is drying up and that new whales are selling bitcoin at lower prices, which could dampen any bullish momentum. Recent upward movements in the equity markets have propelled a surge in bullish sentiment within the crypto market. both overall and short term sentiment amo.
Bitcoin Bullish In Face Of Bearish Sentiment Elliott Wave International According to him, on chain metrics such as mvrv, sopr, and nupl are signaling a bear market. he added that fresh liquidity is drying up and that new whales are selling bitcoin at lower prices, which could dampen any bullish momentum. Recent upward movements in the equity markets have propelled a surge in bullish sentiment within the crypto market. both overall and short term sentiment amo. Bitcoin (btc) is currently experiencing significant selling pressure, largely attributed to a notable decline in demand. recent data shared by ju, reveals that coinbase’s bitcoin spot trading volume dominance has reverted to pre spot etf levels. Strong bullish sentiment? unlike the recovery rallies throughout 2022, the 2023 btc run has created a consistent bullish sentiment allowing the short term sopr to hold above 1. however, the asopr ratio has interestingly found support above one recently as well. Bitcoin [btc]‘s latest downturn has sparked a significant shift in market sentiment, with experts re evaluating its trajectory on the charts. according to coinmarketcap data , btc was trading at $81,896.71 at press time, after a 0.46% decline in the last 24 hours. The analytics firm executive says bitcoin’s profit and loss (pnl) index cyclical signals, an analytical tool that aggregates several on chain metrics to identify cycle tops and bottoms, just flashed a signal that potentially marks the end of btc’s bull market.