Price analysis 12/6: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, LUNA, AVAX
Bitcoin (BTC) is attempting to extend its recovery by rising above the psychological mark at $50,000, but several popular analysts believe that BTC could remain range-bound for a few weeks or even months.
On-chain analytics firm CryptoQuant said that Bitcoin “whales are still depositing BTC to exchanges.” This simply indicates that whales are setting themselves up to react at short notice depending on which path the price elects to take.
The sharp correction of the past few days has pulled the Crypto Fear and Greed Index to 16, which indicates a sentiment of “extreme fear.” Some believe the current fall looks similar to the March 2020 crash.
However, CoinCorner CEO Danny Scott said that Bitcoin’s fall was due to the liquidation of positions by
Read more on cointelegraph.com
