16h56 ▪
3
min of reading ▪ by
The crypto world is constantly bubbling, bitcoin and altcoins are no strangers to changes. After a decline in recent months, signs are showing a sharp recovery.
Signs on the Total Value of Bitcoin
First off, the gauge of Bitcoin’s total value is already marking its territory. Planted at 2.19 trillion dollars, the index challenges its bullish support. However, a massive fortress stands at 2.285 trillion. Nevertheless, if this rampart capitulates, a seismic wave will be unleashed.
Indeed, the ultimate Grail stands at 2.72 trillion dollars. That is the highest peak ever reached this year. Moreover, the bullish momentum of bitcoin, although winded, seems to be picking up again. Moreover, the RSI indicator diverges, like a banner of the bullish revolt.
On-chain Indicators and Crypto Market Sentiment
The signals from the depths of the blockchain are rumbling. Right off the bat, the social volume is shrinking, an harbinger of the upcoming recovery. In parallel, despite the surrounding debacle, the whales have not broken ranks. They still thrive, voracious for bitcoin they hoard. Simultaneously, the analytics firm Santiment deciphers a major signal. According to them, the feared bullish wave could well be triggered shortly.
However, a thorny challenge persists on the regulatory field. On one hand, India opens its doors wide to offshore giants. On the other, the United States maintains its iron-clad anti-crypto and anti-Bitcoin stance in financial institutions. A titanic clash that just adds fuel to the fire of the surrounding uncertainty.
This global cat-and-mouse game adds an unexpected geopolitical dimension. In this new cold war, investors find themselves as pawns on a gigantic chessboard. On one side, the promise of a welcoming regulatory Eldorado. On the other, the persistent threat of heavy sanctions and ostracism. The future looks tumultuous for the Bitcoin price and actors in the crypto sector.
Despite everything, impatience is rumbling within the crypto ranks. If all systems are go for Bitcoin and all altcoins, there is no doubt that their revolt will set the markets ablaze. The slumbering giants might well transform the cryptosphere into a veritable battlefield of ruins.
Maximize your Cointribune experience with our ‘Read to Earn’ program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.
Le monde évolue et l’adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m’intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l’optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
