Bitcoin cools after a spike to $42,000 with the weekend still to play out.
, signs had already been circulating that an uptick was due, thanks mainly to the time-tested relative strength index breaking a two-month downtrend in late January.
"Probably worth mentioning price is at historic levels of oversold to on-chain demand/supply, and the futures traders have halted their sell-down," statistician Willy WooTurning to sentiment, the sense of caution characterizing the market since November's $69,000 peak remained.According to the Crypto Fear & Greed Index,"fear" was still the overriding emotion among market participants, even after the price jump.
The Index, which uses a basket of factors to produce a nominal sentiment score from 0-100, measured 33 at the time of writing, having spent most of January below 25 — the"extreme fear" zone. Nonetheless, the last time that the Index was so high was almost six weeks ago, just after Christmas.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Purpose Bitcoin ETF Buys 1,750 BTC Within 2 Days on the DipCanada-based Bitcoin ETF acquires $64.2 million worth of Bitcoin within two days, while the price is in decline
Read more »
Bitcoin Rebounds to $38K, Here's Who Is Buying BTCICYMI: after a near 6% drop, Bitcoin managed to recover above $38,000 BTC $BTC
Read more »
BTC/USD Forecast: Bitcoin Has Quiet SessionBitcoin had a very quiet trading session as the 36,800 level seems to be offering a little bit of stabilization. btc bitcoin CryptocurrencyMarket
Read more »
Price analysis 2/4: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAXBTC and altcoins finally broke above their respective overhead resistance levels, but the actions of traders over the next few days will determine whether bulls are back in control.
Read more »
BTC, ETH, BNB, ADA, AVAX and SOL Price Analysis for February 3Which altcoin can show better price performance than BTC? CardanoStiftung ADAcoin_ Cardano cardano Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX
Read more »
Texas BTC Miners Shut Down as Arctic Blast Approaches | CoinMarketCapThe state is hoping to avoid a repeat of the carnage seen in February 2021, when widespread power outages caused extensive disruption.
Read more »