Bitcoin has traveled a long way to be only a financial experiment to become an vital value storage. Currently sitting at a six -digit valuation, the flagship cryptocurrency gathered a horde of investors who actively derive benefit from directional movements.
Despite all the growth, Bitcoin price is still influenced by moments of madness, fear, as well as caution among investors. At the moment, the data on the chain indicate that Bitcoin may be in a phase in which caution is the order of things. Here are the details of this revelation.
The 90-day CVD moves to neutral after extended trends
In a post on June 27 on the 10th, social platform, analyst Crypto Maartunn revealed that there has been an vital change in an vital indicator. The appropriate indicator here is the 90-day Delta Delta (CVD) 90-day meter, which tracks the pressure or net sales pressure on the Futures BTC market.
The positive and growing value of the metric usually means that the Futures contracts market is dominated by buyers (dominant buyer). On the other hand, when the indicator is negative, it means that the Futures market is dominated by low traders (the dominant seller).
Source: @JA_Maartunn on X
In the post on X Maartunn indicated that the current 90-day CVD is flat, which indicates a balance between stubborn forces and bears on the market. Although the price of bitcoins could show good signs of recovery, this piece of data in the chain suggests that the market leader may return to the scope of consolidation.
Bitcoin fear and greed at a neutral level
In another June 27 Post WX Crypto Analytics ALPHRACTAL has observed in a chain that has similar implications with a maartan report. Alphraktal’s revelation was based on Bitcoin: Fear and Greed Index Map Map Map Index, which follows the change in market moods – from extreme fear to extreme greed – over time.
Metric ranges with values from 0 to 100. The range 0-24 signals extreme fear on the market; 25-49 sounds as fear, and 50 is interpreted as a neutral level, where there is a balance between the two market moods. On the other side of the spectrum range 51-74 signal greed on the market; 75-100 means extreme greed on the market, showing a wide optimism, which often precedes the peaks of the market.
According to alpraktal data, the fear and greed indicator is 65, which is still far from levels +90 observed in November and December 2024. This balance between buyers and sellers may suggest that the market can wait for a catalyst, such as Macro News or a chain development to get a breakthrough on both sides of the market.
Due to the current uncertainty, it is recommended that traders recommend caution on the market. Since the Bitcoin press, it has been valued at around USD 107,143, and cryptocurrency lose about 0.11% in the last 24 hours.
Related Reading: Bitcoin towards the latest maximas, but retail traders are loading on shorts
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
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