{"id":641956,"date":"2024-09-15T08:00:17","date_gmt":"2024-09-15T08:00:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=641956"},"modified":"2024-09-15T09:20:41","modified_gmt":"2024-09-15T09:20:41","slug":"bitcoin-at-a-crossroads-bullish-momentum-meets-selling-pressure-details","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-at-a-crossroads-bullish-momentum-meets-selling-pressure-details\/","title":{"rendered":"Bitcoin At A Crossroads: Bullish Momentum Meets Selling Pressure &#8211; Details"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Bitcoin gained by over 10% in the past week as it<a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-hits-60000-as-market-conditions-align-for-crypto-price-surge-santiment\/\" target=\"_blank\" rel=\"noopener \"> reclaimed the $60,000 price mark<\/a> on Friday. Following an initially negative performance in September, this recent price rise by the crypto market leader has elicited much positive sentiments from investors.\u00a0 <\/span><span style=\"font-weight: 400\">However, a Cryptoquant analyst with the username CRYPTOHELL reports that this bullish momentum is being challenged by opposite forces driving the BTC market to a crossroads.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/3-year-cup-handle-bitcoin\/\" target=\"_blank\" rel=\"noopener \">3-Year Cup-And-Handle Pattern Promises To Send Bitcoin Above $100,000<\/a><\/div>\n<h2><strong>Bitcoin Market Forces At A Standstill &#8211; What Next?<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In a <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/66e52dbc7261b47dc950c433-Bitcoin-at-a-Crossroads-Bullish-Momentum-Meets-Cautionary-Signals\" target=\"_blank\" rel=\"noopener nofollow\">Quicktake post<\/a> on Saturday, CRYPTOHELL stated that the current Bitcoin market presents both optimistic and cautionary signals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the positive front, the crypto analyst notes that there has been a decrease in <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-supply-on-exchange-tightens-could-a-new-bull-run-be-just-weeks-away\/\" target=\"_blank\" rel=\"noopener \">BTC exchange reserves<\/a> which hints at a diminished selling pressure, with investors opting to maintain their holdings in anticipation of a future price gain.\u00a0 <\/span><span style=\"font-weight: 400\">This bullish sentiment is further strengthened by a strong demand from US-based investors as evidently seen in the demand for the Bitcoin spot ETFs and indicated in metrics such as the Coinbase Premium Index.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Alternatively, CRYPTOHELL states there are market developments that may require investors to apply some caution.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Firstly, the analyst highlights that there is a higher-than-average exchange netflows of Bitcoin over the last 7 days, which may indicate the presence of some significant selling pressure. <\/span><span style=\"font-weight: 400\">Furthermore, the Adjusted Spent Output Profit Ratio (aSOPR), a key metric for assessing market sentiment shows that there is a modest level of profit realization by investors which indicates a selling pressure on Bitcoin.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In addition, this bearish sentiment is bolstered by the negative funding rates in the derivatives market which means that many traders are taking leveraged short positions in anticipation of a price drop.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The presence of these bullish and bearish factors simultaneously has pushed the BTC market into \u201can anxiety phase\u201d where most investors are uncertain about the digital asset. However, long-term investors are still largely dormant which is a big positive for the bullish forces.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In conclusion, CRYPTOHELL states the Bitcoin market is at a &#8220;decision point&#8221;, and with technical indicators also presenting a neutral position, future price movements will be potentially influenced by significant changes in market sentiment and important news possibly in terms of adoption, regulation, etc.<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_641960\" aria-describedby=\"caption-attachment-641960\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-641960\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/4s0435xjL_3288685b66248bb9919ac6aed8132818e5de1ee55ba0bed316b03ce2de9fadbf.png?w=860&#038;resize=860%2C621\" alt=\"Bitcoin\" width=\"860\" height=\"621\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/4s0435xjL_3288685b66248bb9919ac6aed8132818e5de1ee55ba0bed316b03ce2de9fadbf.png?w=1280 1280w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/4s0435xjL_3288685b66248bb9919ac6aed8132818e5de1ee55ba0bed316b03ce2de9fadbf.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/4s0435xjL_3288685b66248bb9919ac6aed8132818e5de1ee55ba0bed316b03ce2de9fadbf.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/4s0435xjL_3288685b66248bb9919ac6aed8132818e5de1ee55ba0bed316b03ce2de9fadbf.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/4s0435xjL_3288685b66248bb9919ac6aed8132818e5de1ee55ba0bed316b03ce2de9fadbf.png?w=120 120w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/4s0435xjL_3288685b66248bb9919ac6aed8132818e5de1ee55ba0bed316b03ce2de9fadbf.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/4s0435xjL_3288685b66248bb9919ac6aed8132818e5de1ee55ba0bed316b03ce2de9fadbf.png?w=1140 1140w\" sizes=\"auto, (max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-641960\" class=\"wp-caption-text\">Source: CRYPTOHELL On CryptoQuant<\/figcaption><\/figure>\n<h2><strong>BTC Leverage Ratio Hits New Yearly High<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In other news, crypto analyst Ali Martinez<a href=\"https:\/\/x.com\/ali_charts\/status\/82533726\" target=\"_blank\" rel=\"noopener nofollow\"> has reported<\/a> that the total estimated leverage ratio of Bitcoin across exchanges has attained a new yearly high. This development largely means Bitcoin traders are taking more risks as they open more positions with borrowed funds.\u00a0 <\/span><span style=\"font-weight: 400\">While leveraging generally can lead to amplified gain, it also presents the risks of significant losses which can induce large-scale liquidations. Thus, there is a need for increased caution in the BTC market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin trades at $60,220 with a 0.23% decline in the last day. Notably, Bitcoin\u2019s trading volume is down by 51.83% and valued at $15.74 billion.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-price-recovery-hinges-on-this-key-market-indicator-reveals-analyst\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Recovery Hinges On This Key Market Indicator, Reveals Analyst<\/a><\/p>\n<figure style=\"width: 1480px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/U2BicIOe\/\" alt=\"Bitcoin\" width=\"1480\" height=\"893\"><figcaption class=\"wp-caption-text\">BTC trading at $60,220.18 on the daily chart | Source: BTCUSDT chart on Tradingview.com<\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\"><em>Featured image from Shutterstock, chart from Tradingview<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin gained by over 10% in the past week as it reclaimed the $60,000 price mark on Friday. Following an initially negative performance in September, this recent price rise by the crypto market leader has elicited much positive sentiments from investors.\u00a0 However, a Cryptoquant analyst with the username CRYPTOHELL reports that this bullish momentum is being challenged by opposite forces driving the BTC market to a crossroads. Related Reading: 3-Year Cup-And-Handle Pattern Promises To Send Bitcoin Above $100,000 Bitcoin Market Forces At A Standstill &#8211; What Next? In a Quicktake post on Saturday, CRYPTOHELL stated that the current Bitcoin market presents both optimistic and cautionary signals.\u00a0 On the positive front, the crypto analyst notes that there has been a decrease in BTC exchange reserves which hints at a diminished selling pressure, with investors opting to maintain their holdings in anticipation of a future price gain.\u00a0 This bullish sentiment is further strengthened by a strong demand from US-based investors as evidently seen in the demand for the Bitcoin spot ETFs and indicated in metrics such as the Coinbase Premium Index.\u00a0 Alternatively, CRYPTOHELL states there are market developments that may require investors to apply some caution.\u00a0 Firstly, the analyst highlights that there is a higher-than-average exchange netflows of Bitcoin over the last 7 days, which may indicate the presence of some significant selling pressure. Furthermore, the Adjusted Spent Output Profit Ratio (aSOPR), a key metric for assessing market sentiment shows that there is a modest level of profit realization by investors which indicates a selling pressure on Bitcoin.\u00a0 In addition, this bearish sentiment is bolstered by the negative funding rates in the derivatives market which means that many traders are taking leveraged short positions in anticipation of a price drop.\u00a0 The presence of these bullish and bearish factors simultaneously has pushed the BTC market into \u201can anxiety phase\u201d where most investors are uncertain about the digital asset. However, long-term investors are still largely dormant which is a big positive for the bullish forces.\u00a0 In conclusion, CRYPTOHELL states the Bitcoin market is at a &#8220;decision point&#8221;, and with technical indicators also presenting a neutral position, future price movements will be potentially influenced by significant changes in market sentiment and important news possibly in terms of adoption, regulation, etc. &nbsp; BTC Leverage Ratio Hits New Yearly High In other news, crypto analyst Ali Martinez has reported that the total estimated leverage ratio of Bitcoin across exchanges has attained a new yearly high. This development largely means Bitcoin traders are taking more risks as they open more positions with borrowed funds.\u00a0 While leveraging generally can lead to amplified gain, it also presents the risks of significant losses which can induce large-scale liquidations. Thus, there is a need for increased caution in the BTC market. At the time of writing, Bitcoin trades at $60,220 with a 0.23% decline in the last day. Notably, Bitcoin\u2019s trading volume is down by 51.83% and valued at $15.74 billion. Related Reading: Bitcoin Price Recovery Hinges On This Key Market Indicator, Reveals Analyst Featured image from Shutterstock, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":641965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,88585,1144,78790,13879,93048,85950],"class_list":["post-641956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-spot-etfs","tag-btcusd","tag-btcusdt","tag-bullish-momentum","tag-exchange-reserve","tag-funding-rates"],"acf":[],"yoast_head":"\n<title>Bitcoin at a Crossroads: Bullish Momentum Meets Selling Pressure - Details<\/title>\n<meta name=\"description\" content=\"a Cryptoquant analyst reports the current bullish momentum is being challenged by opposite forces driving the Bitcoin market to a crossroads\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-at-a-crossroads-bullish-momentum-meets-selling-pressure-details\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin at a Crossroads: Bullish Momentum Meets Selling Pressure - Details\" \/>\n<meta property=\"og:description\" content=\"a Cryptoquant analyst reports the current bullish momentum is being challenged by opposite forces driving the Bitcoin market to a crossroads\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-at-a-crossroads-bullish-momentum-meets-selling-pressure-details\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-15T08:00:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-15T09:20:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/shutterstock_104159111.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"522\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Semilore Faleti\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SemiloreFaleti\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Semilore Faleti\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-at-a-crossroads-bullish-momentum-meets-selling-pressure-details\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-at-a-crossroads-bullish-momentum-meets-selling-pressure-details\/\"},\"author\":{\"name\":\"Semilore Faleti\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/6280b76d69630ffb2f2fa78670d85d49\"},\"headline\":\"Bitcoin At A Crossroads: Bullish Momentum Meets Selling Pressure &#8211; 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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