Analysis: The current market is in a risk-on mode, and bitcoin sellers may soon disappear
ChainCatcher News: Crypto trader Ran Neuner posted that the current market is completely in risk-on mode, but most people are unaware because the price of bitcoin has not fluctuated significantly.
Currently, the price of silver has reached a historic high and is in a breakout and accelerating upward phase. Silver is the beta coefficient of gold, indicating risk appetite; ETH/BTC has now broken above the 50-week moving average and continues to climb, with ETH representing risk appetite in the crypto market; the Russell 2000 index has also broken out, representing risk appetite in the stock market; in addition, the money printer has started, and the Federal Reserve has shifted to quantitative easing earlier than expected.
He stated that bitcoin sellers will soon disappear, and a large-scale catch-up trade is about to begin.
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.
You may also like
AI trend continues to drive momentum, global tech stocks lead gains, bond markets strengthen collectively, and oil prices may experience the longest decline in a year.
The Seoul Composite Index in South Korea rose 0.49%, paring some of its early morning gains. Brent crude fell 1.2% to around $94 per barrel, facing its longest losing streak in nearly a year. The decline in oil prices has eased market concerns over inflation, which had previously been driven up by yields reaching multi-decade highs, putting pressure on the bond market. Both Australian and New Zealand 10-year government bond yields dropped by at least 3 basis points, while US Treasury futures climbed in tandem.
Crypto prices
More
