Bitcoin trend indicator turns yellow, CoinDesk 20 index trading volume increases
According to CoinDesk, the Bitcoin Trend Indicator (BTI) turned light green on January 16 and yellow on January 18. Since the BTI turned neutral on January 18, front-end US interest rates have risen by 5 basis points, and the price of Bitcoin has fallen by about 4.5% to $39.5k.
The BTI is an online tool created by CoinDesk subsidiary CoinDesk Indices, designed to help investors assess the trend of Bitcoin prices. The tool generates five possible values representing different directions and strengths of Bitcoin price trends, ranging from a significant decline to a significant increase.
In the past three months since the BTI turned green, the CoinDesk 20 Index has outperformed both Bitcoin and Ethereum by over 1500 basis points and 1200 basis points respectively. The performance of the CoinDesk 20 Index is mainly influenced by its bias towards smaller altcoins, particularly Solana (SOL), Avalanche (AVAX), and Cardano (ADA), which have higher index weights compared to established cryptocurrencies like Bitcoin and Ethereum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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