Bitcoin Market: Metrics, Fear and Greed Index, CVDs & Delta

By Newt Bettec Aug 23, 202355Views

Key Points:

– Bitcoin market remains in a vulnerable state following last Thursday’s price crash.
– Fear and Greed Index for Bitcoin sits at 37, indicating strong fear in the market.
– Cumulative Volume Delta (CVD) reveals limit sellers and short positions dominating the market.
– Specific price point to watch is $26,100, where spot takers are being absorbed by limit sellers.
– Liquidation of long positions presents a risk for bullish scenarios.

Hot Take:

The Bitcoin market is currently experiencing strong fear and apprehension among market participants. Limit sellers and short positions are dominating the market, constraining upward movement. The recent liquidation of long positions poses a risk for any bullish scenarios. While there may be a silver lining with potential short squeezing, the market remains vulnerable and recovery may take an indefinite period. It is crucial for traders to watch the $26,100 price point and be cautious in their positions.

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Newt Bettec

Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt's intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding. A guiding star for both audacious explorers and curious neophytes journeying through the crypto galaxy, Newt's insights forge a compass for insightful decision-making amidst the ever-evolving universe of digital assets. With the precision of a wordsmith, they craft a narrative that enriches the evolving chronicle of the crypto cosmos.