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Bitcoin Holds Steady As Bullish Breakout Awaits These Conditions – Details

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Bitcoin Holds Steady As Bullish Breakout Awaits These Conditions – Details - NewsBTC

Quick Summary:

Based on the MVRV Ratio and CQ Bull & Bear metric, burakkesmeci notes that Bitcoin investors are presently showing a significant level of market anticipation.  For context, the MVRV Ratio compares the current price of Bitcoin to its realized value i.e.the price at which the asset last moved on-chain.

According to burrakesmeci, the CQ Bull & Bear metric has been oscillating slightly below its SMA 365 (0.46) since August enforcing the notion that the Bitcoin market is in a holding pattern.  Related Reading: Bitcoin Investors Show Fear – Could A Price Bottom Be Imminent?

Bitcoin MVRV, CQ Bull & Bear Indicators Show Market Uneasiness In a Quicktake post on CryptoQuant, an analyst with username burakkesmeci shares that the Bitcoin market is currently set for key price movements.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-06 @ 05:30:43 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 442 words

Reading Time: 3 minutes read

Sentences: 67 lines

Sentence Length: 7 words per sentence (average)

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

Copyright Owner: © NewsBTC

News ID: 22905560

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 10 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 10 hours ago

Coverage Areas: United Kingdom

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Publisher ID: #102

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