{"id":566709,"date":"2023-12-23T14:00:23","date_gmt":"2023-12-23T14:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=566709"},"modified":"2024-06-11T11:59:54","modified_gmt":"2024-06-11T11:59:54","slug":"analyst-points-to-increasing-caution-in-bitcoin-market-despite-price-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-points-to-increasing-caution-in-bitcoin-market-despite-price-surge\/","title":{"rendered":"Analyst Points To Increasing Caution In Bitcoin Market Despite Price Surge"},"content":{"rendered":"

In the past week, Bitcoin recorded an overall positive performance, gaining by 3.45%, according to data from CoinMarketCap<\/a>. This price rise adds to BTC\u2019s bullish form in the last 30 days, during which the maiden cryptocurrency has surged by 16.78%. However, despite this market uptick, there appears to be a growing trend of caution among Bitcoin traders, indicating fear of a potential price dump.\u00a0<\/span><\/p>\n

Related Reading: Matrixport Foresees Bitcoin Hitting $50,000 Price Mark: Here\u2019s When<\/a><\/div>\n

Analyst Highlights Evidence Of Growing Caution In The Bitcoin Market<\/strong>
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In an X Post on Saturday<\/a>, popular crypto analyst Ali Martinez shared an interesting observation regarding the Bitcoin market with his 37,000 followers.\u00a0<\/span><\/p>\n

According to Martinez, there is a significant decrease in the estimated leverage ratio in the BTC market across all exchanges. This indicates that traders are reducing their leverage risk and are now treading carefully in the BTC market, even amidst the current price gain.\u00a0<\/span><\/p>\n

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As #Bitcoin<\/a> price climbs, we see a decrease in the Estimated Leverage Ratio \u2013 a sign that traders are reducing their leverage risk. This suggests a more cautious approach in the #crypto<\/a> market despite the $BTC<\/a> price uptick. pic.twitter.com\/421FjfyV6b<\/a><\/p>\n

— Ali (@ali_charts) December 22, 2023<\/a><\/p><\/blockquote>\n