Bitcoin euphoria phase far off, Coinbase data suggests more growth potential

Bitcoin euphoria phase far off, Coinbase data suggests more growth potential
фото показано с : cryptoslate.com

2024-2-19 18:00

Quick Take

The Bitcoin market, currently priced above $52,000, is treading the thin line between market greed and euphoria, according to Glassnode.

Fear and Greed Index: (Source: Glassnode)

The sentiment of greed has predominantly been the narrative since October 2023, with a brief period of neutrality during a 20% dip below the $40,000 mark. However, multiple indicators suggest the peak euphoria of the cycle still lies ahead.

BTC Google Search: (Source: Google)

Currently, at 22, Google Trends’ search of “Bitcoin” signals a vast distance from the 2021 bull run’s relative peak value of 100.

Furthermore, according to analyst Vetle Lunde from K33 Research, the quarterly retail trading volume of Coinbase in Q4 2023 stands at $29 billion, a significant increase since Q3 2023 of $11 billion but still a fraction of the $177 billion seen in Q4 2021.

Quarterly Retail Trading Volume: (Source: K33 Research)

The quarterly retail trading volume mimics a similar trading volume of Q4 2020, just before the bullish surge.

Another indicator is the ranking of Coinbase within finance apps – a reliable retail market thermometer. At 36th place, just above Crypto.com, its ranking is far from an expression of peak euphoria.

Top Finance Apps: (Source: App Store)

Consequently, the data suggests that the market euphoria peak remains distant, indicating room for further growth.

The post Bitcoin euphoria phase far off, Coinbase data suggests more growth potential appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 61279.21 (+0.17%)
Объем 24H $24.09b
Изменеия 24h: -1.59 %, 7d: 6.01 %
Cегодня L: $60884.44 - H: $61728.04
Капитализация $1206.945b Rank 1
Цена в час новости $ 51848.5 (18.19%)

bitcoin euphoria market greed narrative glassnode sentiment

Источник: cryptoslate.com

bitcoin euphoria → Результатов: 96


Euphoria is Back Ahead of ETF Listings: Bitcoin Hits $63k and Ether Nearly $4k as NYSE Certifies “Approval for Listing”

OI on Bitcoin futures has hit a new ATH on both Binance and CME, while annualized daily basis on Binance is closing on 13%. The post Euphoria is Back Ahead of ETF Listings: Bitcoin Hits k and Ether Nearly k as NYSE Certifies “Approval for Listing” first appeared on BitcoinExchangeGuide.

2021-10-16 16:19


Crypto Roundup: April 19th, 2021

Bitcoin and Ethereum surged to hit simultaneous all-time highs early last week, tapping $65K and $2.5K respectively as Litecoin rose above $300 for the first time in three years. Yet the buying party came to an abrupt end when the highly-anticipated Coinbase listing failed to push prices even higher. Euphoria turned to fear as traders […]

2021-4-20 19:17


Euphoria Back in the Market? Bitcoin to Hit $11,000 But Ether is Struggling This Time

The leading digital currency is approaching the levels seen right at the beginning of this month before we went down under $10,000 to hit as low as $9,800. In a bullish start of the week, bitcoin first hit $10,750 yesterday, and now today, the crypto asset recovered some more and went further up to as […] The post Euphoria Back in the Market? Bitcoin to Hit ,000 But Ether is Struggling This Time first appeared on BitcoinExchangeGuide.

2020-9-15 17:57


Trader: Bitcoin Could Be Forming a Massive “Bull Trap” as Bearish Signs Emerge

Bitcoin is currently flashing overt signs of strength as it consolidates above $11,000 Bears attempted to catalyze a selloff yesterday, but the previous resistance at $10,500 now has flipped into a strong support level Analysts are widely noting that the cryptocurrency is positioned to see further upside However, one trader is cautioning against premature euphoria He notes that there are a few signals that indicate this movement could be a massive “bull trap” that ends […]

2020-7-30 02:00


Some CDC Scientist Must REALLY Hate Bitcoin

If you’ve typed the word “crypto” into Google’s omniscient search engine during the past several weeks of bitcoin market euphoria, there’s a good chance you’ve been greeted with a headline like this one: Pool Parasite ‘Crypto’ Is On The Rise And Making Swimmers Sick, CDC Warns And there’s an equally good chance that you did […] The post Some CDC Scientist Must REALLY Hate Bitcoin appeared first on CCN Markets

2019-7-3 21:37


дальше еще 47 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Trade and Mint NFTs in Heroes of Mavia’s New Ruby Marketplace

Learn about the new Ruby Marketplace in Heroes of Mavia, where players can trade and mint NFT skins using $RUBY tokens on the Base blockchain. Upgrade your HQ now! The post Trade and Mint NFTs in Heroes of Mavia’s New Ruby Marketplace appeared first on NFT News Today.

NYSE Arca withdraws Grayscale’s futures ETH ETF 19-b4 filing

The US SEC reported a critical Grayscale withdrawal on May 7 that could have broad implications for spot Ethereum ETFs. Specifically, NYSE Arca withdrew a 19-b4 filing containing a proposed rule change through which it intended to list and trade shares of Grayscale’s Ethereum Futures Trust ETF.

MicroStrategy continues stacking Bitcoin with $1.65 billion purchase during Q1

MicroStrategy’s first quarter earnings report showed the firm bought roughly 25,250 BTC for $1. 65 billion at an average price of $65,232 per BTC during the first three months of the year. With its latest purchases, MicroStrategy now holds 214,400 BTC in total — equating to roughly 1% of the total Bitcoin supply.