Bitcoin's price fell 1.46% to around $72,648, showing a 16% decline year-to-date, while the S&P 500 rose over 10% in the same period. Data reveals Bitcoin acts as a risk-off asset when U.S. stocks perform well, with fluctuating short-term correlations but steady longer-term links to the S&P 500. Indicators like the Spent Output Profit Ratio (SOPR) below 1 and negative Net Realized Profit and Loss (NRPL) suggest ongoing selling pressure and weak market sentiment for Bitcoin. Despite some recovery attempts, Bitcoin struggles against the stronger traditional equities market, signaling bearish conditions for the cryptocurrency.
Bitcoin traded near $64,500 as trading volume declined and market sentiment remained cautious despite stable on-chain activity and exchange outflows. The Crypto Fear & Greed Index stayed at 'extreme fear,' indicating low investor confidence. While tr...
Bitcoin's price slightly fell to $64,164, reflecting broader market caution as equity indices and financial indicators like the US 10-year yield and DXY suggest tighter conditions. Meanwhile, Ethereum gained 2.09% to $1,908, showing selective investo...
Bitcoin recently rallied to $65,086, its highest close since late June, driven mainly by softer US inflation data that lowered expectations for Federal Reserve rate hikes. However, Bitfinex reports that this rally lacks sustained spot buying and depe...
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
