Analysis Today TheBitTimes.com

The crypto market’s index of fear and greed has reached its highest level since the end of 2021, indicating greed. According to the latest data from the Alternative.me platform, the Fear and Greed Index in the crypto market has reached its highest level since November 2021. Back then, the price of Bitcoin hit at $69,000. Currently, the figure is 76 points — indicating a bullish greed sentiment not seen since then. Source: Alternative.me The index numerically shows the emotions and sentiments of crypto market participants. Now, the needle is in the “extreme greed” zone. Throughout the last month, the indicator fluctuated from 71 to 74. Only on Dec. 5, when the price of Bitcoin (BTC) jumped to $44,000, the needle briefly moved to the 75-point mark. Previously, the crypto market moved into the “extreme greed” zone on Nov. 11, 2021. Then, the indicator was 77, and the cost of the first cryptocurrency reached a historical maximum. On Jan. 8, the pr...

Despite a recent very modest drawback, things are looking exceptionally good for the price of Bitcoin (BTC), which has just made a successful breakout to a positive chart pattern and completed a perfect retest of a critical level necessary for its bullish continuation. As it happens, the flagship decentralized finance (DeFi) asset has gone through a breakout to a bullish pennant pattern with a perfect retest, according to the chart analysis shared by pseudonymous cryptocurrency expert Trader Tardigrade in an X post on December 20. Specifically, as the analyst’s observations of the chart patterns suggest, the maiden crypto asset has recently made a breakout at the level around $42,500, followed by a successful retest of this exact price threshold, after which nothing stands in its way toward a bullish rally. Bitcoin price action analysis. Source: Trader Tardigrade Bitcoin price analysis Meanwhile, Bitcoin was at press time changing hands at the price of $42,846, which represe...

The total crypto market cap has stalled at the $1.2 trillion level, but derivatives data shows bulls are preparing for the next breakout. After gaining 11% between March 16 and March 18, the total crypto market capitalization has been battling resistance at the $1.2 trillion level. This same level was reached on August 14, 2022 and was followed by a 19.7% decline to $960 billion over the next two weeks. During the lateralization period between March 20 and March 27, Bitcoin (BTC) gained 0.3%, while Ether (ETH) posted modest gains of 1.6%. Total crypto market cap in USD, 12-hour. Source: TradingView One source of favorable short-term momentum is a change in the Federal Reserve’s monetary policy The U.S. Federal Reserve was forced to increase its balance sheet by $393 billion between March 9 and March 23 in order to provide short-term loans to failing banks. The objective of the plan was to reduce inflation, which has significantly impacted the cost of living and ultimately hampered ec...