Bitcoin Market Shows Mixed Signals as Bullish Indicators Clash With Bearish Sentiment
The post Bitcoin Market Shows Mixed Signals as Bullish Indicators Clash With Bearish Sentiment appeared on BitcoinEthereumNews.com.
The evolving cryptocurrency market of 2025 finds Bitcoin at a critical crossroads, leaning against the short-term optimistic trading patterns seen since mid-March and the not-so-encouraging trader sentiment observed last Friday. Data collected over the first days of May paints a more sophisticated—but also more complicated—picture than what may have been gleaned through the market’s first brush with $30,000. At this turn, Bitcoin’s on-chain indicators are in good health, reinforcing the not-so-distant view that $30,000 was very much in play. Recent scrutiny of the cost basis ribbon for Short-Term Holders (STHs) of Bitcoin has uncovered what might be a bullish development: investors who have held Bitcoin for more than one month (and many for several months) are, on average, back in profit. This is a big shift. It’s not clear whether it is happening because the price of Bitcoin has gone up or because the holders themselves are simply holding longer. Regardless, this is quite clearly a big behavioral moment. When these holders return to being profitable, they tend to put reduced selling pressure in the market. This is mattering now. And it could matter more in the next couple of weeks or months. The cost basis ribbon for Short-Term Holders shows that investors holding $BTC for over 1 month have returned to profit. This shift eases sell pressure from older STHs and may signal early signs of positive market momentum if maintained. pic.twitter.com/e0mt0vCzXw — glassnode (@glassnode) May 2, 2025 It is crucial for STHs to be consistently profitable, particularly given the divided sentiment that currently pervades the overall market. Bearish Sentiment Dominates on Binance Despite ETF Inflows Although on-chain behavior is providing some hopeful signals, trader sentiment remains predominantly bearish—at least at the world’s largest cryptocurrency exchange, Binance. The latest numbers show that 63.76% of traders with open Bitcoin positions…
Filed under: News - @ May 3, 2025 9:21 pm