Bitcoin’s Confidence Game
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- Investor confidence in Bitcoin has been exceptionally strong recently, with the confidence index currently at 0.75.
- The cryptocurrency saw a moderate increase of 0.92% in just the last 24 hours.
For the first time in two weeks, Bitcoin [BTC] has traded upward for consecutive days. At present, Bitcoin [BTC] is valued at $97,640 after experiencing a gain of 1%. This appears to reinforce the cryptocurrency’s bullish momentum observed on weekly charts.
Even as BTC fluctuates sideways, many stakeholders remain optimistic. For instance, CryptoQuant analyst Frost suggests that optimism is prevalent—a sign that investor sentiment stays robust throughout the market.
Investor confidence in Bitcoin remains elevated
In his analysis, Frost indicated that current market conditions suggest Bitcoin investors are still hoping for a price recovery in the cryptocurrency.
This high confidence index typically characterizes bull markets; however as it approaches closer to one (1), it often signifies a market peak. Currently, the index stands at approximately 0.75.
Source: Alphractal.
If these indices drop near zero, they reliably signal potential market bottoms.
The index seems to be nearing this critical threshold at present which may indicate an upcoming long-term accumulation opportunity.
The current upward trend within the market persists but extreme euphoria has yet to set in—what do recent charts reveal?
Your account hasn’t said much about fluctuation and external factors yet—important elements investors should consider moving forward!.......g-in-black][[Lest we forget; Chart analysts gather waves from across various data points every few moments for insight into potential future movement and direction(s): keep confirming trends discovered alongside similar patterns within short observation windows…].]).
*Source: Bitbo.*
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Please pay attention I’d say—the future will not wait!`
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