Cryptocurrency investors were getting prepared for a much bigger bullish move from Bitcoin, but it looks like they have to wait a little longer to see any strong bullish rally.
Bitcoin price must avoid being caught by the sellers while buying pressure should be increased to let the traditional cryptocurrency token sustain above the psychological level.
As soon as BTC started rallying back into the consolidation area, other altcoins have also started following the path paved by the infamous digital currency.
This shows that the crypto investors are under a situation of extreme fear and the current market sentiments are that if BTC spends more time below $30000 level, then it may create a situation of panic selling.
Currently, the funding rate seems bullish, which shows that investors still believe that BTC will definitely sustain above $30000; well, it’s a matter of time to see if it actually does or not.
Bitcoin price is trying to sustain above the $30000 psychological level, and the token is trying to gain the uptrend momentum.
The MACD line is ahead of the signal line and is preparing to maintain itself above it.
This shows that the crypto investors are under a situation of extreme fear and the current market sentiments are that if BTC spends more time below $30000 level, then it may create a situation of panic selling.
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