News Formal

Bitcoin price strength intensifies as risk-loving traders bring volume back to the crypto market

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Bitcoin price flexes its muscles as on-chain data, trading volumes and favorable macroeconomic data lure traders back into the crypto market.

Trading volume increases coincide with profits returning

Reversing a trend that started in May 2022, the on-chain realized profit and loss ratio for BTC is up over the 1.0 level, hitting 1.56 profits over losses on Jan. 16, 2023. Bitcoin’s 30-day correlation to the Nasdaq reached 0.29 on Jan. 17, 2023 the highest BTC divergence from equities since December 2021.

Now that institutional investors and growth companies are holding less Bitcoin, correlation to markets may lessen in the future.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

✅ Price up ✅ Volume up ✅ Positivity up 🤷‍♂️ Bull trap?

when are you changing company name to davostelegraph?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Following Recent Highs – Market Updates Bitcoin NewsBitcoin consolidated on Jan. 16, as U.S. markets closed in celebration of the Martin Luther King Jr. Day holiday celebration. Show be do it Using Chiefrafba for signals and analysis I have a 92% win rate in 2 months Bart, go away, it's just Monday!
Source: BTCTN - 🏆 531. / 51 Read more »