- Santiment announced that the prices of crypto and equities have declined.
- BTC is currently struggling to stay afloat above the 200 EMA.
- RSI, BBP, and CMF could show signs of the bear season for BTC.
Analyzing the current market, Santiment, a market intelligence platform, took to Twitter to announce that the prices of crypto and equities have declined together after witnessing a bull run at the start of 2023. Santiment also pointed out that Bitcoin and altcoins have corrected a bit.
After a great January for #equities & ESPECIALLY #crypto, prices have declined together. #Bitcoin and #altcoins have predictably corrected a bit. The high correlation with the #SP500 still limits the likelihood of an upcoming #cryptocurrency #bullrun. https://t.co/8vcb37wOkk pic.twitter.com/Lb29OhlMb1— Santiment (@santimentfeed) February 9, 2023
The 4-hour trading chart shows that BTC witnessed a sudden vertical jump just a few days after the golden cross was made during the intersection of 50 EMA and 200 EMA. During BTC’s bull run, the price kept on going upward.
4-hour chart BTC/USDT (Source: Trading View)
Around the last week of January, BTC started off with a desce…
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