Latest Findings Show A Reduction In Sell Off, Is A Bitcoin Rally Ahead?

Bitcoin and the broader crypto market surprisingly performed over the past week. At the beginning of the week, the market saw more movements to the south in most crypto asset prices. A few hours following the release of the US CPI data for September saw the entrance of the bears into the market. However, almost all the tokens had a reversal in the direction of the trend. The bull suddenly appeared and forced massive volatility pushing the assets to the north. Related Reading: Elrond (EGLD) Price May Break Past $56 Hurdle – Here’s How The performance of the primary crypto asset, Bitcoin, was calm throughout the weekend. Bitcoin sustained its anchor at around $19,200 through the period. But some participants in the industry are wondering about a possible turn for the leading cryptocurrency. Possible Price Spike With Present Indicators According to indicators from on-chain platforms, BTC might record a more bullish trend soon. The sentiment is drawn from the indication of the Bitcoin futures market. An analyst at CryptoQuant, Dan Lim, gave some supporting explanations for this positive trend expectation. According to him, the token currently has low selling pressure in the futures market. Lim says there’s been a drastic decline in the BTC amount transferred from spot exchange to derivatives since October. He recalled that since the fall in June, the volume continued to rise, but Bitcoin retained its June low of $17,600. Cur...