šš» CryptoQuant: āUptoberā has failed. Bitcoin is losing buyersā support
CryptoQuant Head of Research Julio Moreno explained why October fell short of the crypto marketās expectations:
š» Spot market demand continues to decline, while U.S. investors remain on the sidelines.
š» Traders are taking profits, and the market still has room for further selling.
š» The Bull Score Index fell from 90 to 60 points ā bullish sentiment has weakened considerably.
šÆ Key Bitcoin levels:
ā¢ $77,585 ā 365-day average price.
ā¢ $74,041 ā tradersā realized price.
ā¢ $73,028 ā 200-day moving average.
ā”ļø What could change the situation? The Fedās decision and the U.S. elections are the key macro events the market is watching.
As long as buyers stay away, the risk of further BTC declines remains.
#forecast
CryptoQuant Head of Research Julio Moreno explained why October fell short of the crypto marketās expectations:
š» Spot market demand continues to decline, while U.S. investors remain on the sidelines.
š» Traders are taking profits, and the market still has room for further selling.
š» The Bull Score Index fell from 90 to 60 points ā bullish sentiment has weakened considerably.
šÆ Key Bitcoin levels:
ā¢ $77,585 ā 365-day average price.
ā¢ $74,041 ā tradersā realized price.
ā¢ $73,028 ā 200-day moving average.
ā”ļø What could change the situation? The Fedās decision and the U.S. elections are the key macro events the market is watching.
As long as buyers stay away, the risk of further BTC declines remains.
#forecast
