CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market stays in the FEAR zone. Compared to last week, the

Fear & Greed Index has slightly increased from “39” to “40”.

 

 

 

BITCOIN

SOPR – Another data to evaluate the sentiment of the general public would be to look at Spent Output Profit Ratio (SOPR). What is SOPR? In layman terms, it indicates if people have sold their BTC at a profit or if they sold at a loss. An SOPR value above 1 indicates that profit booking dominated loss booking and below 1 indicates that loss booking dominated profit booking. A value of 1 indicates that the coins were sold at their purchase price. Adjusted SOPR filters out transactions that are younger than 1 hour, thus, clearing out noise from the metric.

 

  

 

 

aSOPR for this week is below 1 which means investors are selling their Bitcoins at a loss.

 

 

CVDD-TERMINAL PRICE CHART INDICATOR

 

 

 

 

 

 

 

 

 

 

 

 

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement.

 

 

 

 

 

  

 

 

 

 

 

As OI decreases, it indicates investors are closing futures positions and possibility of trend reversals. In turn, this might trigger the possibility of short-squeeze caused by sudden price movement

 

 

Bitcoin chart

 

 

 

 

 

$BTC Price corrected by 0.50% in the last week. It has reached the Support levels and a bounce back is expected from this level. The immediate support is expected at $25,000 and resistance is expected at

$32,000

ETH/BTC

 

  

ETH/BTC is consolidating within the triangle pattern. It corrected by 0.85% against BTC in the last week, the immediate support is expected around 0.062 and the next resistance is expected around 0.073 level.

 

 

Tokens with high XMINT token listed on India’s biggest exchange delivered 10X gains.

 

Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.

 

Start your Crypto Investments with XMINT Algos