ByteTrend Digital
Bitcoin and the leading tokens have done well in recent weeks. Perhaps Uptober came early.
Bitcoin and the leading tokens have done well in recent weeks. Perhaps Uptober came early.
The short-term price action is encouraging. Looking at the leading tokens, there is a sense of stability playing out.
BTC has risen back above the 30-day moving average and made a 20-day high. The worst outcome has so far been averted.
The malaise comes from the macro, where real yields are rising. The best news I can deliver is that they won’t rise forever.
The past week has been tough, with BTC down 18% since the May peak. In this update, I will explore some of the reasons.
Bitcoin’s ByteTrend Score has dropped to a 0 for the first time since April. The bear has returned.