While the market traditional does not wake up, the Crypto Times come give Bitcoin a good day. Check out a brief summary of what could affect the market this Friday (27).
THE Bitcoin (BTC) it dawns with slight losses, seeking to sustain the US$ 23,000 mark. THE Ether (ETH) also moves sideways, but is priced above US$ 1,600.
The market value also shows moderate declines and remains at US$ 1.05 trillion.
André Franco, chief analyst at Mercado Bitcoin, notes that today volatility is leaning towards falls. “For the seventh consecutive day, the crypto market starts the day at zero to zero, but bitcoin remains close to US$ 23,000 and ether at US$ 1,600. The most likely thing to happen going forward is the volatility burst,” he says.
The analyst believes that a pullback could be healthy and likely. “In the on-chain data, 7 thousand bitcoins left the long-term (LTH) position. In Ethereum, another 15 thousand ETH were locked in the Beacon Chain”, he concludes.
Fernando Pereira, content manager at Bitget, says that BTC apparently found a very short-term top at $23,800. “There should be a pullback back to $21K in the next few days before moving back up and picking up $25K,” he predicts.
It is worth remembering that in the last two Fridays, the cryptocurrency showed gains of more than 5% at the end of the day, after spending the week walking sideways. So it’s an interesting pattern to keep an eye on today.
bullish crypto market
Also because the market is optimistic for the first time in ten months. This is what the fear index points out, which rose one point and reached the mark of 55, out of a total of 100. The region indicates a level of “optimism”. Since March 2022, before the Terra crash (LUNA), the index has not reached this level.
Source: Moneytimes
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