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06:58
Analysis: Bitcoin's RSI relative to gold has fallen to a near three-year low, considered a potential bull/bear market boundary.
the Bitcoin to Gold (BTC/XAU) price has dropped to the level of about 20 ounces of gold, the lowest since early 2024. At the same time, the weekly RSI indicator of this ratio has fallen to around 29.5 (oversold area), close to a three-year low. Data shows that this RSI oversold region historically often appears near the bottom of bear markets. Some analysts believe this may indicate that Bitcoin is undervalued and has potential for a rebound in the future. However, there are also views that if this key support is broken, it may signal a weakening trend.
06:32
Analysis: On-chain data shows sentiment recovery as the number of BTC liquidation addresses begins to decrease
BlockBeats News, December 21, data analyst Murphy stated that on-chain data shows signs of sentiment recovery. The number of addresses that shifted from "holding BTC" to "completely liquidated" surged between November 13 and 25, during which BTC experienced its fastest and largest price drop. The large number of liquidated addresses also reflected the market's panic and pessimism. However, during the period from December 1 to 18, BTC repeatedly tested the bottom, and the number of liquidated addresses began to decrease, which fully coincided with the bullish behavior and sentiment changes observed in the futures market.
06:30
Analysis: On-chain data shows a recovery in market sentiment, with the number of BTC withdrawal addresses starting to decrease
BlockBeats News, December 21st, Data analyst Murphy stated that on-chain data has seen signs of sentiment recovery. The number of addresses that switched from "HODLing BTC" to "completely exiting the market" within 30 days had surged between November 13th and 25th, during which the BTC price experienced its fastest and most significant decline. The increase in these sell-off addresses reflected the market's panic and pessimism. However, starting from December 1st to the 18th, as BTC repeatedly tested its bottom, the number of sell-off addresses started to decrease, aligning perfectly with the bullish behavior and sentiment shift seen in the futures market.
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