According to ChainCatcher, crypto trader Ran Neuner posted that the current market is fully in risk-on mode, though many are unaware due to Bitcoin's lack of significant price swings. Silver prices are hitting record highs and breaking out, signaling risk appetite. ETH/BTC has broken above the 50-week moving average and continues to rise, representing crypto's risk-on sentiment. The Russell 2000 index has also broken out, indicating equity market risk appetite. Additionally, the printing press has started, with the Fed turning to quantitative easing earlier than expected. He added that Bitcoin sellers may soon disappear, and a major catch-up rally is about to begin.
Market in Risk-On Mode, Bitcoin Sellers May Disappear Soon
ChaincatcherShare
Summary
Risk appetite is building across markets, with on-chain data showing crypto in a clear risk-on phase. Despite Bitcoin’s muted moves, silver hits fresh highs and the Russell 2000 breaks out, both pointing to bullish sentiment. ETH/BTC climbs above the 50-week MA, reinforcing the trend. On-chain data also shows fading selling pressure, with a Bitcoin rally likely ahead. The Fed’s early easing adds fuel to the move.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.