The sentiment in the crypto market lasts despite the fall of Bitcoin almost 2% the previous day to change hands near $ 105,000 price levels.
The sentiment-tracking of the Crypto Fear & Greed Index Na -Post A “greed” score of 63 to 100 on Wednesday, which has slipped to a point from Tuesday, as Bitcoin (Btc) TAKE 1.79% in a collapse at $ 105,560 after almost $ 108,000 on the previous day, According to In CoinMarketCap data.
Emotion strongly leads to historical difficult Q3
Crypto analysts have figured out when Bitcoin could have reiterated all the time of $ 111,970 reached on May 22. High optimization on Monday as its price walks below $ 109,000, before slipping into another short-term downtrend.
Some analysts mentioned that the third quarter, which began on July 1, is usually a weaker period for Bitcoin.
“From historical data, this quarter is generally the slowest of all, for both $ BTC and $ eth, “Crypto Trader Crypto Crypto Trades Says on Tuesday.
Since 2013, Bitcoin has an average 5.47% gain in the third quarter per year, According to In coinglass. If that trend holds it, it will put the price of Bitcoin around $ 111,000 on September 30-shame on the full time of $ 111,970.
Road said the weaker performance during the quarter was due to the “slower tag -heat which generally had less action, volume (and) liquidity.”
Bitcoin’s Q2 performance matches the average gain
Bitcoin closely matched the average history performance in the second quarter, which ended on June 30, posting a 31% benefit to $ 108,383 -approximately 4% above the 27% average return of Q2 since 2014. However, Bitcoin Ends the month of June with the highest monthly candles.
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Other indicators have signed that the market is still heavily favored by Bitcoin. Bitcoin’s dominance seated around 65.5%, up to about 13% to this year, According to In tradingview.
Meanwhile, CoinMarketCap’s Altcoin season Index.
However, head of Cryptoquant’s research, Julio Moreno, Says On Wednesday that the scale of the Bitcoin Bull’s Cryptoquant score declined to a degree of uncertainty.
“The Bitcoin Bull mark is in neutral territory today – 50. It has to be 60 or up for prices to maintain a rally,” Moreno said.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
