showed BTC/USD acting in a narrowing range with $40,700 as its ceiling Saturday and Sunday.
With Monday likewise a non-trading day, Bitcoin was set for four days of"out-of-hours" trading. While that meant its stocks correlation mattered less, there were other forces at play ready to spook sentiment. Analyzing derivatives moves over the weekend, Deribit Insights, the research arm of trading platform Deribit, flagged liquidity as one consideration influencing real-time investor decisions.Perhaps they are concerned about Spot/deriv market manipulation over an illiquid weekend.— Deribit Insights A slight zoom-out from popular trader and commentator Pentoshi meanwhile delivered a more wary perspective.
"Below bias is for re-distribution and another leg down. Think buyers need to step in pretty quickly."Pentoshi was meanwhile not the only voice predicting long-term gain but short-term pain for Bitcoin — a narrative, which had gathered momentum throughout 2022.Analyzing market movements, Kevin Svenson, well known on social media for his bullish sentiment on BTC, warned that current chart behavior was mimicking the period just before Bitcoin's bear market crash in late 2018.
Source: Digital Coin News (digitalcoinnews.net)
KevinSvenson_ . . . unless it's bitcoin.
KevinSvenson_ XMetaverse_ X-Metaverse is a blockchain game developed by Cocos3D and can run on Android, iOS and PC. All game content items and characters are based on blockchain tokens and NFTs. The visual effects and gameplay of X-Metaverse are inspired by StarCraft and Star Wars.
Our analytical team has done a detailed analysis regarding BTC, and its Fear and Greed Index is 50 - NEUTRAL at the moment with price of 40480.777685202571 usd, so what do you think about the current Bitcoin state?
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