Mar 27
📊 #Crypto traders normally hope that #Bitcoin and other assets carve their own market performance path, without reliance on #equities or other sectors. But for a change, the crowd has been suggesting that the strong #AllTimeHigh levels from the #SP500 and #gold are creating a #bullish divergence for $BTC and #altcoins to be pulled up from profit distributions from these other sectors.
With $BTC's whales accumulating big this week and the #halving just three weeks out, this increased optimism and today's perpetual contract funding rate increase on #Binance may have some merit to predicting where #cryptocurrency goes next. 👍
Save this Sanbase chart to your own profile to track how things continue to progress in the trading sector wars!
Feb 28
#Bitcoin has now climbed as high as $64.1K before a mid-sized retracement down to $59.8K approximately 4 hours later. Today's high has now closed the gap to within 7.2% of $BTC's $68.7K #AllTimeHigh established on November 10, 2021.
Meanwhile, #Ethereum has reached as high as $3,483, which is within 39.5% of its $4,859 #AllTimeHigh, also established on November 10, 2021.
#Crypto markets continue to surge with essentially no correlation to the #SP500 and #equities markets. This is historically a strong validator that the #cryptocurrency sector is in a confirmed #bullmarket.
Track the continued correlations between sectors on our price comparison chart here.
Feb 26
📈 With assistance from #Microstrategy's latest purchase of an additional 3,000 #Bitcoin, the market value of #crypto's top cap asset has jumped as high as $54.9K today, equaling its highest price since December 3, 2021. Notably, this happened on a day that the #SP500 declined -0.5%, indicating that #crypto may be shedding some of its reliance on #equities markets.
Historically, minimal correlation between #cryptocurrency markets and #stock markets has led to the largest #bullruns for $BTC and #altcoins.
Jan 26
📊 #Bitcoin crept over $42K today, even though #altcoins are not following suit (yet). The #SP500 had just made a new #AllTimeHigh yesterday, and the #bullish argument for #crypto is that $BTC and other large caps may 'regress to the mean' and play catch-up with the #equities markets. The #cryptocurrency sector has really lagged behind stock markets, particularly after it began deviating in the opposite direction back on January 17th.
Grab a FREE Santiment trial, and monitor the correlation between crypto and equities as we head into the final few days of January!
Dec 27
🥳📊 2023 is going down in the books as one of the best performing years of the century, accounting for multiple major sectors. #Bitcoin and #Ethereum are still within reach of breaking 1.5+ year highs, which were just established 3 weeks ago.
- Bitcoin: Current market price of $43,157. If the asset gains +2.9% more in value, it will break a 20-month high
- Ethereum: Current market price of $2,350. If the asset gains +1.6% more in value, it will break a 20-month high
- S&P 500: Current market price of $4,775. The sector has just reached another 23-month high as traders are optimistic about interest rate reductions in early 2024.
- Gold: Current market price of $2,089. If the precious metal gains +2.3% more in value, it will break a new all-time high
Dec 14
📺 #Crypto markets have been all over the place this past week, but they have been rebounding as of late after #altcoin hype died down. Check out our video market update with @Minted_Max to talk about how the remainder of 2023 should shake out!
Nov 28
📊 #Bitcoin (+6.9%), #Ethereum (+12.2%) #SP500 (+8.5%), and #gold (+1.5%) have had encouraging November performances. Particularly with the stock market, it has rapidly caught up to #crypto over these past couple weeks. If $BTC makes a run from here without stocks following suit, this would be a strong sign that the correlation between sectors is breaking once again, which is typically a recipe for a #cryptocurrency #bullmarket.
Grab a week of free real-time #Santiment metrics here.