The post Bitcoin’s Market Bottom Remains Uncertain as Long/Short Ratio Fails to Crossover Altcoins appeared on BitcoinEthereumNews.com.

The cryptocurrency market remains in a state of flux as Bitcoin’s Long/Short Ratio indicates that a price bottom has not yet been reached. Over the last week, Bitcoin has recorded a slight decline of 0.88%, reflecting its struggle within a tight consolidation range. “Since no crossover has occurred, it suggests that investors are still more confident and bullish on altcoins than Bitcoin,” states Alphractal. This article explores the current state of the cryptocurrency market, highlighting Bitcoin’s price trends and investor sentiment as critical factors influencing future movements. Understanding Why the Market’s Bottom Is Not Yet Reached Market analysis from Alphractal emphasizes that the price bottom for Bitcoin has yet to arrive, owing to the lack of a crucial Long/Short Ratio crossover. Historically, such crossovers signal pivotal shifts in market sentiment, often marking the end of bearish phases. Source: Alphractal This Long/Short Ratio indicates that during times of market bottom formation, there is a notable shift in confidence from altcoins to Bitcoin, which has not transpired since September 2024. Presently, Bitcoin’s Long/Short Ratio stands at 1.48, while altcoins maintain a robust ratio of approximately 2.55, underscoring ongoing bullish sentiment towards alternative cryptocurrencies. Chart Analysis: Indicators from BTC’s Price Movement Despite altcoins garnering more investor attention, many Bitcoin traders maintain a bullish outlook. Current market indicators hint that Bitcoin is poised for potential upward movement, which may include short-term corrections but suggest an overarching trend of consolidation leading to growth. Source: Bitbo Furthermore, data from COINOTAG reveals a decline in Bitcoin’s Coin Days Destroyed (CDD), indicating a trend where long-term holders are withholding their assets rather than selling. This behavior is a bullish signal indicating strong belief in future price increases. Source: Bitbo These observations align with increasing totals of dormant coins, which have surged to 18.1 million, further reflecting the strong…

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Filed under: News - @ February 5, 2025 12:24 pm