$5 Billion Worth of Bitcoin (BTC) Sold in Loss by Paper Hands During Latest Correction Phase

News

  • Bitcoin (BTC) price reclaims the $95,000 price range.
  • This move brings back an extreme greed sentiment for the crypto market. 
  • Analysts expect $100,000 to arrive soon followed by a gradual cycle top price.

Bitcoin (BTC) price has reclaimed the $95,000 price range after a short dip closer to the $90,000 price range. Standing at the mid-range of a $90,000 price mark, Bitcoin has reignited an ‘Extreme Greed’ sentiment with a score of 77 according to the Crypto Fear & Greed Index. With targets set on the $100,000 price mark, bullish  BTC sentiment remains strong. 

Bitcoin Reclaims $95,000 Reigniting Bullish Sentiment

While seasoned analysts say the dip in BTC price was a healthy correction phase for Bitcoin before the inevitable pump to 6-digit ATHs, many new traders and FUDers in the space allowed fear to cloud their view of the bigger picture and ended up selling their BTC gains int he past few days.

https://twitter.com/DrProfitCrypto/status/1861870878570537442

$5 Billion Worth of Losses Sold in Bitcoin

As we can see from the post above, investors have sold over $5 billion worth of Bitcoin (BTC) at a loss in the last few days. The analyst sees this incident as a sign that the market is not bullish enough for the arrival of $100,000 possibly delaying its arrival. The analyst expects to see more diamond hands than paper hands as the $100,000 BTC ATH moment inches closer.

https://twitter.com/Washigorira/status/1861714917830574445

Another analyst adds to the same bullish narrative for Bitcoin saying that a Bitcoin cycle top is still a long way away. As we can see from the post above, he says that a cycle top isn’t likely until the MA111 crosses above the MA350*2. The crossover will either mark the peak or will signal it is near.

The post $5 Billion Worth of Bitcoin (BTC) Sold in Loss by Paper Hands During Latest Correction Phase appeared first on Crypto News Land.

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