Although Bitcoin has fallen nearly 2% over the past day, sentiment in the crypto market has remained steady to swap hands for a price level of $105,000.
Emotion Tracking Encrypted Fear and Greed Index Posted Bitcoin (BitcoinBTC) After almost reaching $108,000 the day before, it dropped to $105,560, with a return of 1.79%, according to Used to share market cap data.
The strong emotions lead to historical poverty Q3
Crypto analysts speculate when Bitcoin may retest its all-time high of $111,970 on May 22. Optimism was high on Monday as its price hovers below $109,000 before sliding into another short-term downtrend.
Some analysts point out that the third quarter, starting on July 1, is usually a weaker period for Bitcoin.
“From historical data, this quarter is usually the slowest of all $btc and $eth,” cryptocurrency trader daan cryptocurrency trading explain Tuesday.
Bitcoin has grown an average of 5.47% in the third quarter of each year since 2013. according to Go to coinglass. If this trend holds true, it will put Bitcoin at about $111,000 on September 30, well below its all-time high of $111,970.
Dann said the weaker performance this quarter was due to “the slower months of summer months usually decreased, volume and liquidity.”
Bitcoin’s second quarter performance matching average gain
Bitcoin matches the historical average performance of the second quarter ending June 30, with earnings of $108,383, about 4% higher than the average Q2 return since 2014. However, Bitcoin End of June The highest candle per month.
Related: Strategy bought $531 million in Bitcoin for $531 million as a rebound above $107K
Other indicators show that the market still likes Bitcoin. Bitcoin has a 65.5% advantage, up nearly 13% so far this year, according to Go to TradingView.
Meanwhile, CoinMarketCap’s Altcoin season indexThis is the performance of the last 90 days relative to Bitcoin’s top 100 altcoins, with a “bitcoin season” score of 100 points.
However, Julio Moreno, the head of research at crypto, explain On Wednesday, the Bitcoin Bull rating metric for cryptocurrencies has dropped to uncertainty levels.
“The Bitcoin Bull score is now in neutral territory – 50. To maintain a rally, it must be 60 or above.”
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This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
