The Crypto Fear & Greed Index has remained in the neutral zone since last week, also indicating that the market participants are expecting further triggers. In this situation, neither sellers nor buyers want to be the first to retreat. Bitcoin is gaining support very actively after the bears attempted to intensify a downward momentum. At the moment it is possible to enjoy for some time a relatively stable (by crypto market standards) price, which in theory should contribute to the growth of using the coin as a means of payment. At the same time, one should not forget about the underwater flows: the miners sell the previously mined coins on the approach of $10K, and investors bet on the cut of the bitcoin “supply” after halving.
The FxPro Analyst Team