Crypto Market Rises 2.4% as Risk Sentiment Improves

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

BTC+2.984%

ETH+2.911%

BNB+2.794%

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Market Recovery: The crypto market rose 2.4% to $2.51 trillion, driven by improved global risk sentiment, indicating a renewed investor interest in risk assets, particularly following a sharp decline in oil prices.
Bitcoin Surge: Bitcoin (BTC) approached $72,000 with a nearly 4% increase, reinforcing its position as the market leader and attracting more investor attention amid favorable market conditions.
Liquidation Phenomenon: The price rebound led to nearly $246 million in liquidations from leveraged positions, predominantly from short sellers, highlighting the pressure on short-term investors due to the market's strong recovery.
ETF Inflows: On Thursday, $53.87 million flowed into spot Bitcoin ETFs, marking the fourth consecutive day of inflows, indicating rising institutional interest in crypto assets and further fueling market gains.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	57004.779	61311.634	65436.289	69743.144	73867.799	78174.654	82299.309
Fibonacci	61311.634	64532.471	66522.308	69743.144	72963.981	74953.818	78174.654

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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