Is The Crypto Market Too Optimistic? | investing.com – Investing.com

Is The Crypto Market Too Optimistic? | investing.com – Investing.com

There is optimism in the crypto market, despite more frequent corrective pullbacks after new highs. Are most people now having wishful thinking towards BTC? has lost 4% in the last 24 hours and is trading around $54K. For the week, it is down more than 14%. You could consider what is happening at the moment a consolidation, but after setting an all-time high of $65K, Bitcoin has continued to decline. This is not an impulsive panic decline but a consistent pressure on the value of the asset.Bitcoin's decline looks increasingly problematic as the price has fallen below its 50-day MAAs far as technical analysis is concerned, Bitcoin's decline looks increasingly problematic as the price has fallen below its 50-day average. If it consolidates below that line at the end of the day, we could see an intensified sell-off as some short-term speculators rush to the exit in anticipation of further failure. It is likely that broad investor optimism in the late stages of the rally is keeping the market at fairly high levels.   Bitcoin's capitalization is holding above $1 trillion, while the total capitalization of the crypto market is struggling to hold around $2 trillion. Bitcoin's dominance index