Bitcoin rose toward $43,000 on Tuesday and is up about 3% over the past 24 hours. Several alternative cryptocurrencies (altcoins) such as MATC and FTM were up about 14% over the same period, suggesting a greater appetite for risk among investors.It appears that bullish sentiment is starting to return to both crypto and equity markets, at least over the short term. Technical … [Read more...] about Market Wrap: Bitcoin and Equities Stabilize as Sentiment Improves
Sentiment
Olympus Tanks 30% Led by Liquidations on Fuse, Souring Market Sentiment
Olympus, like other DeFi projects, relies on smart contracts instead of intermediaries to provide financial services to users. Its goal is to create a stablecoin backed by crypto instead of fiat currencies like the U.S. dollar, which users can in turn stake for currently offered annualized returns of 7,800%. Source link … [Read more...] about Olympus Tanks 30% Led by Liquidations on Fuse, Souring Market Sentiment
Bitcoin Sentiment Turns Extremely Bearish
Bitcoin is roughly 35% below its all-time high of almost $69,000, which was set in November. The drawdown, or percentage decline from peak to trough, is the largest since July. Previous drawdowns have reached levels of nearly 80% and took several months to recover. Source link … [Read more...] about Bitcoin Sentiment Turns Extremely Bearish
Bitcoin CME Futures Slip Into ‘Backwardation’ as Bearish Sentiment Grips Market
Bitcoin futures listed on the Chicago Mercantile Exchange (CME) have slipped into ‘backwardation,’ a market condition that represents declining institutional appetite for the cryptocurrency.Data tracked by Skew shows backwardation represented by futures drawing lower prices than the spot prices emerged on Monday with the one-month contract slipping to an annualized discount of … [Read more...] about Bitcoin CME Futures Slip Into ‘Backwardation’ as Bearish Sentiment Grips Market
Market Wrap: Cryptocurrency Sell-Off Pauses as Sentiment Turns Bearish
Cryptocurrencies were mostly lower on Monday, although market conditions have stabilized following the weekend sell-off. Bitcoin was trading above its 200-day moving average (currently at $46,386), which suggests selling pressure could wane over the short term.Analysts pointed out that excess leverage in the bitcoin futures market contributed to the broad sell-off. And despite … [Read more...] about Market Wrap: Cryptocurrency Sell-Off Pauses as Sentiment Turns Bearish