Crypto market spirit has kept stable despite about 2% bitcoin in the previous day to change hands close to $ 105,000 value level.
Emotion-tracking crypto fear and greed index Posted On Wednesday, a “greed” score of 63 out of 100 slipped a point from Tuesday, as Bitcoin (BTC) pulled back a drop of 1.79% in a drop by $ 105,560 after reaching $ 108,000 the previous day. According For coinmarketcap data.
Historically strong spirit in poor Q3
Crypto analysts have speculated that Bitcoin may resume its all -time high of $ 111,970 on 22 May. On Monday, optimism was high as its price was reduced by $ 109,000, before slipping into another short -term downtrend.
Some analysts stated that the third quarter, which began on 1 July, is usually a weak period for bitcoins.
“From historical data, this quarter is usually the fastest out of the two $ BTC and $ Eth, “Crypto Treder Daan Crypto Trade Said On Tuesday.
Since 2013, Bitcoin has gained 5.47% during the third quarter every year, According To coinglass. If she holds a trend, it keeps the price of bitcoin at around $ 111,000 sept 30-its all-time high is ashamed of high $ 111,970.
Dan stated that the weak performance during the quarter is “due to the slow summer months where there is usually less action, volume (and) liquidity.”
Q2 performance of bitcoin matches average profit
Bitcoin closely corresponds to its historic average performance during the second quarter, ending June 30, with a 27% average of $ 108,383 – nearly 4% to 31% from the 27% average Q2 returns since 2014. However, Bitcoin ended the month of June with its highest monthly candle.
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Other indicators indicate that the market is still in favor of bitcoin. Bitcoin dominance is around 65.5%, so far this year about 13%, According For tradingview.
Meanwhile, Coinmarketcap’s Altcoin season SequentialWhich base the performance of the top 100 altcoins relative to bitcoin in the last 90 days, sitting on a “bitcoin season” score of 20 out of 100.
However, the head of the research of Cryptoctive, Julio Moreno, Said On Wednesday that the bitcoin bull score metric of Cryptoctive has rejected the level of uncertainty.
“Bitcoin bull scores are now in the neutral region- 50. To maintain the rally, prices must be 60 or more,” the Moreno said.
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