Analysts recorded “bull” moods on crypto

Experts note “bull” mood among retail investors and the lack of whales to fix profit, despite the approach of the price of the first cryptocurrency to ATH.

According to Santiment experts, about two positive commentary on social networks about the state of the market is on one negative commentary.

“Bitcoin recently came close to his historical maximum of $ 112,000 – against this background of the mood of retail investors, they again became bulls,” analysts shared observations.

Their thesis reinforces the values ​​of the cryptocurrency index of fear and greed:

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Whales do not fix profit

The analyst Cryptoquant under the nickname Crypto Dan noted that most market participants do not show the desire to “take” the profit.

“Whales are in no hurry to fix profit at the current levels and, most likely, will wait for higher prices – when the market is overheated and the bubble begins to form,” the expert shared his opinion.

His colleague under the nickname Darkfost in a similar manner noted optimistic signals from Binance Chita, adding that the behavior of large players “causes surprise”.

“When the price of bitcoin approaches the historical maximum or exceeds it, large players on Binance usually use this moment to fix profit. This is accompanied by a noticeable increase in the influx of funds to the exchange, ”the expert explained.

He noted that against the backdrop of local price peak in May 2024, “whale” revenues to the exchange exceeded $ 5.3 billion. Subsequent price extremes were accompanied by tributaries of $ 8.45 billion and $ 7.24 billion, after which brief and medium-term corrections followed.

At the time of writing, bitcoin is traded in the region of $ 107,800. From the beginning of the year, digital gold has risen in price by 15.45%, according to CoinmarketCap.

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Source: Cryptocurrency

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