Bitcoin

Rekt

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-possible-market-retreat-as-indicators-point-to-overheating" rel="noopener noreferrer nofollow">Bitcoin Faces Possible Market Retreat as Indicators Point to Overheating</a><br></p>
<p style="text-align: justify">Despite <a href="https://en.bitcoinhaber.net/bitcoins-looming-golden-cross-a-beacon-of-bullish-prospects" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent price surge, market signals are hinting at a potential decline, sparking discussions on the sustainability of the current price increase. After a minor rebound post-Federal Reserve’s interest rate announcement, Bitcoin’s value has stabilized around $66,256, marking a slight dip over the past day. Investors and traders appear apprehensive about whether the upward momentum can persist.</p>
<h2 id="indicators-warn-of-overvaluation">Indicators Warn of Overvaluation</h2>
<p style="text-align: justify">Certain key metrics, including CryptoQuant’s Bull-Bear Market Cycle Indicator, suggest the market may be in an excessively bullish state, raising alarms about the longevity of the surge. Alongside, high levels of unrealized profits among Bitcoin holders are contributing to speculations of an imminent market correction.</p>
<p style="text-align: justify">A report from JPMorgan further fuels this sentiment by indicating that Bitcoin might be overbought, and a price correction towards $51,000 could be on the horizon. Additionally, recent trading patterns show a spike in sales from investors, a trend not seen since May 2019, which could signify a profit-taking phase amid the escalating market prices.</p>
<h2 id="expert-claims-market-cycles-are-predictable">Expert Claims Market Cycles Are Predictable</h2>
<p style="text-align: justify">Despite these warning signs, crypto analyst Rekt Capital suggests Bitcoin’s 18% setback aligns with typical market cycle retracements, which range from 20% to 23%. These pullbacks are deemed regular occurrences within the present cycle.</p>
<p style="text-align: justify">Rekt Capital notes that Bitcoin has yet to initiate its first major parabolic rally beyond previous record highs, indicating a phase of reaccumulation. This phase is expected to set the stage for a breakout. The analyst also emphasizes the significance of the recent dip, being only the fifth substantial pullback since the 2022 bear market low, pointing to the infrequent nature of such retracements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-possible-market-retreat-as-indicators-point-to-overheating" rel="noopener noreferrer nofollow">Bitcoin Faces Possible Market Retreat as Indicators Point to Overheating</a></h5>

Bitcoin Faces Possible Market Retreat as Indicators Point to Overheating

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