Crypto Daily – After a period of generally sideways movement since mid-November, the price is about to breakout. Will $BTC break up to new highs, or are bears about to break the uptrend with a sharp move to the downside?
As Bitcoin reaches its next directional decision, both bulls and bears are making their cases. Market sentiment has been sliding over the last couple of weeks, while the U.S. Spot Bitcoin ETFs have continued to register net outflows. In contrast, MicroStrategy may well announce another Bitcoin purchase on Monday.
Market sentiment on the slide
Source: Alternative.me
The Fear & Greed Index, which graphically shows market sentiment for crypto, has also been on the slide. From last month’s Extreme Greed reading of 84, there has been a slow reduction in sentiment, resulting in today’s reading of 65. This is still in the greed, but it can be seen in the graphic above that this positive sentiment could change if crypto prices continue…
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