As part of my research, I’ve been monitoring market sentiment using Coinglass OI-weighted funding rates. Currently, the rate is at -0.0048% as of Tuesday, and it actually turned negative on Monday. While it might seem like a small number, this indicates that short sellers are currently dominating – meaning more traders are positioned to profit from a price decrease than from an increase.
The Bitcoin Fear and Greed Index, that fickle beast, has plummeted to a measly 5-lower than a worm’s belly after a rainstorm. Even the FTX fiasco and the Terra tumble didn’t send it this far into the dumps. Meanwhile, BlackRock’s IBIT ETF is guzzling up Bitcoin like a glutton at a buffet, while retail traders are selling their digital treasures for a song. Oh, the folly of the masses!
Behold the daily chart, a veritable tapestry woven with the threads of stabilization, albeit within a descending structure that resembles a sad clown at a carnival. The price remains stubbornly below its previous zenith of $97,900, dancing between $68,000 and $70,000 like a timid performer afraid of the spotlight. Major support, like an old friend with questionable advice, lurks between $60,000 and $62,000, while the intricate web of resistance lies above, between $72,000 and $75,000. Fear not! For only a valiant daily close above $75,000 will send our bearish woes packing. Until that glorious day arrives, we remain in cautious territory – digesting our options rather than igniting any wild celebrations.
Now, don’t get your hopes up too high, because the monthly and quarterly performance is still about as cheerful as a tax audit. But, bless its little heart, recent price antics hint at a bullish temper tantrum. Could Hedera be gearing up for a breakout? Charts, momentum doodads, and investor shenanigans suggest that the pullback from February 14 to 15 might just be the warm-up act for a grand ol’ breakout spectacle.
In the lines that follow, we shall meander through the latest and most captivating tidbits from the Ripple universe, where the winds of fortune seem to blow hither and yon.
This guide offers helpful advice for building a stable and growing cryptocurrency portfolio. You’ll learn the important basics of crypto, how to create a well-rounded investment strategy, and how to manage potential risks. We’ll provide clear, step-by-step tips to help you protect your crypto, make informed decisions, and stay successful in the fast-changing world of digital currencies.
In their latest tome of analysis, Matrixport whispers of an inflection point, though they dare not promise it will arrive before the next ice age. Prices, they say, may yet spiral downward, like a leaf in autumn, before the inevitable rebound. “Attractive entry periods,” they murmur, as if inviting you to a masquerade ball where the masks are made of hope and the punch is spiked with volatility.
a curtain call for sustainability, liquidity, and dignity.
