Bearish Outlook for Bitcoin Amidst Negative Correlation with Gold, Says CryptoQuant

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Bearish Outlook for Bitcoin Amidst Negative Correlation with Gold: CryptoQuant: According to a recent analysis from blockchain analytics firm CryptoQuant, Bitcoin is facing a bearish outlook as its negative correlation with gold intensifies.

This negative correlation underscores the risk-averse sentiment currently dominating the market.1.

With long-term holders selling and several key indicators pointing to a potential continuation of the downtrend, market participants should carefully monitor Bitcoin’s price movements and broader market conditions.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: India

Topics: Latest News Bearish outlook

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-14 @ 15:15:02 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 362 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 22506617

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 6 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 13 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #121

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