- The index of fear and greed of bitcoin went from 37%, representing fear, at 47%, indicating neutral, in the last 24 hours.
- A technical and fundamental analysis suggests that the cryptography market will take up an upcoming bullish momentum.
The price of Bitcoin (BTC) has led the larger Altcoin market in recording gains in the last 24 hours. For the first time since the sale of March 4, Bitcoin Price joined more than 5% in the last 24 hours to negotiate $ 91.3,000 Tuesday during the American session in the middle of the North.
The wider Altcoin market reported a bullish feeling, so the market capitalization of total cryptography gained more than 3% to oscillate approximately 2.95 billions of dollars at the time of writing this article. Following increased volatility, more than $ 348 million were liquidated from the crypto launched market, mainly involving short traders.
Scheduled behind Bitcoin and Crypto Pump today
Renewed demand for whale investors
As gold price Ralliated to a new summit of all time of about $ 3.5,000 / OZ earlier Tuesday, data on the channel show that whale investors have changed focus on bitcoin and selective altcoins. The renewed demand for Bitcoin and the Altcoin market, by whale investors, has considerably catalyzed a bullish feeling.
In particular, the US BTC Spot ETF issuers have recorded a net cash entry of more than $ 381 million, which can report a long -standing end of drought.
Crush open interest (OI)
According to Coinglass market data, the total Crypto Open Open Futures (OO) has increased by around 13% in the last 24 hours to oscillate around $ 120 billion. Bitcoin OI jumped more than 16% in the last 24 hours to oscillate around $ 69 billion when writing the present.
Macroeconomic tail winds
The wider crypto market acquired a bullish perspective on Tuesday, partially catalyzed by notable gains in the main stock market indices. The DOW, S&P 500 and NASDAQ indices had won at least 2% during the New York mid -mid negotiation session.
Improving the negotiations of the World Trade War played a crucial role in the upward perspectives.
What to follow?
From the point of view of technical analysis, BTC price is well positioned to come together to a new summit of all time in the near future. According to Geoff Kendrick of Standard Chartered in a note to investors on Tuesday, BTC Price could come together to a new record if the concerns concerning the independence of the federal reserve persist.