Bitcoin Bulls Just Joining the Rally Are Very Late to the Party, Analyst Says
Never before has the RSI been this overbought alongside an above-$60,000 bitcoin price, analysts at The Market Ear explained.
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Never before has the RSI been this overbought alongside an above-$60,000 bitcoin price, analysts at The Market Ear explained.
MXM, MixMob’s governance token on the Solana blockchain, operates the MXM Esports League and incentivizes players.
The figure represents 2% of the token’s circulating supply, or the number of tokens on the open market.
The tokens were up over 40% in the past 24 hours, continuing a rally as a beta bet on the blockchains they are based upon.
Some traders have started buying puts to protect against a potential sharp decline, according to Greeks.Live.
The “fear and greed” index reading is now at 87, a sign of “extreme greed.”
An expected pre-halving rally is a good spot to realize short-term profits, one market observer said.
A market observer said that bitcoin and crypto markets will enter an “unprecedented phase of adoption” as prices eventually breach lifetime peaks.
“Without a bounce from here, we could see a deeper correction begin, potentially as low as $47,000-$49,000,” one trader said.
The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 23, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.