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Bitcoin amounted to the highest new level ever at $ 111,970 on May 22, but it was recovered to $ 110,700, as analysts indicated mixed signals on the high temperature in the market.
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Funding rates and other standards indicate a “healthy healthy stage”.
Bitcoin (BTCThe price recorded the highest new level ever at 111,970 dollars on May 22. However, the BTC price was briefly recovered at $ 110,700 at the time of writing this report.
Despite the correction, there are mixed signals about whether the price height is feverish or whether this is a healthy decline.
Bitcoin “is still uncomfortable” – analyst
Bitcoin does not show any signs of high temperature though Access to its highest levels ever This week, with many analysts suggesting the basics that indicate Bitcoin can rise more.
“Excessive indicators such as the financing rate and short -term capital flow are still low compared to previous summits, and profit recruitment by investors in the short term is limited,” He said Cryptoquant Crypto Dan analyst at QuickTake note May 22.
Crypto Dan noted that the Bitcoin financing, an indication of a high temperature in the market, shows an increase in long bets. However, these bets “remain much smaller compared to the previous summits,” which indicates that “the high temperature of the futures market is almost not mentioned.”
Height in Bitcoin Funding rates Sometimes it may cause anxiety among the market participants about increasing bitcoin fluctuations and filtering risk.
However, the financing rates are somewhat positive, indicating that traders are optimistic about the bitcoin price and that buyers are ready to pay for sellers to operate.
Meanwhile, the short -term profit scale (STH) reveals that although StHS returns to profit, a few of them have profits through The last height.
The value of this indicator is currently estimated at 1.02 %, indicating that StHS achieves some profits at much lower rates.
“In March 2024, there was a great profit and a long correction, but currently, achieving profits is much lower than in November 2024,” the analyst explained, adding that despite the price in the highlands at all, the activity of achieving profits in the whales is still relatively respectful.
Cryptoquant’s Crypto Dan expects Bitcoin to continue height, indicating:
“In general, the bitcoin market is still in healthy healthy.”
Meanwhile, the value of the MVRV Z-Score of Bitcoin-a scale compares the market value of BTC to its achieved value and modification of volatility-a noticeable increase during the past month.
Historically, all the previous Bitcoin runs began with a noticeable increase in the MVRV Z degree and ended with the scale that enters the red region (see the graph below) to indicate that bitcoin is largely exaggerated.
At 2.8, the MVRV Z degree is still much lower than the red area, indicating that The highest market has not yet been done.
RSI enter “Bitcoin”
Bitcoin relativity index, or RsiIt displays excessive conditions at its peak in two out of five time frames. RSI in Bitcoin is now 70 years in the timeline for 12 hours and 75 on the daily chart. Other periods of RSI values near Oversoldold appear on the weekly time frames and four hours.
Data from Tradingview Rsi’s BTC are displayed at 75, 71, 68 and 66 in daily time frames, 12 hours, weekly and four hours, respectively. Meanwhile, the Crypto Fear & Greed 78 index, indicating the conditions of “extreme greed”.
When investors become “greedy”, the market is often delayed from correction. The last time this index was at similar levels was at the height A pump driven by Trump In December 2024, before BTC fell from that time-All the time Higher than about 108,000 dollars About $ 74,000 fell in March.
Related to: Bitcoin buyer dominates $ 111,000 on a “other wave” of gains
Although these scales warn the market participants against risk management, it is important to note that the conditions of the relative strength indicator do not guarantee the reflection of the direction. Prices of encryption are very volatile, and BTC can continue to gather, nourish them Increased demand for ETF Spot and Reducing trade war tensions.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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