Cryptocurrency analysis firm Santiment has issued a compelling assessment of the recent Bitcoin price 0 firm emphasized the historical correlation between Bitcoin and the S&P 500 index stating that the current divergence could signal “oversold” 1 its report Santiment reminded that since early 2022 Bitcoin and the S&P 500 have been similarly affected by global monetary policies and geopolitical developments: “When investor sentiment shifts in risk-on assets
Bitcoin and the S&P 500 typically move in the same 2 stocks show resilience this signals continued risk appetite and it often carries over into crypto.” Related News: Altcoin Hit by Major Hacking Attack Announces It Has Recovered All Funds While the S&P 500 has lost only 1.6% in the last week Bitcoin is down 12.2%
approaching the $100,000 level indicating that the crypto market is under extreme selling pressure according to Santiment: “Excessive volatility in crypto markets often causes a ‘rubber band’ 3 panic selling by investors a strong rebound can occur when selling pressure subsides.” Santiment also argued that the fact that stocks and even gold are maintaining their price levels is a positive sign for patient crypto investors: “If the S&P 500 stabilizes or rebounds
Bitcoin's sharper decline could offer further upside 4 divergence is not a structural weakness but rather an opportunity for patient investors.” *This is not investment 5 Reading: Analysis Company: “If This Happens Bitcoin Will Rise Again”
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