- A shift in the Bitcoin sell pressure is imminent, according to James Mullarney.
- Mullarney revealed the factors affecting Bitcoin’s price development.
- Fear and Greed index has climbed to 50 from 46, indicating a bullish sentiment.
A shift in the Bitcoin sell pressure is imminent, according to James Mullarney, host of the InvestAnswers YouTube channel. Mullarney revealed the factors affecting Bitcoin’s price development in a recently uploaded video, where he provided a technical analysis of the cryptocurrency market.
According to Mullarney, as of Tuesday, October 3, 2023, the crypto market cap was about $1.1 trillion, with a volume of about $40 billion. At the same time, the two top cryptocurrencies, Bitcoin and Ethereum, were priced at $27,400 and $1,650 respectively. Mullarney identified those prices as critical levels, especially for Bitcoin.
The investment analyst thinks that these price levels are critical but in a good way. He noted that the Fear and Greed index has climbed to 50 from 46, indicating an increasing bullish sentiment, which should be a positive development for the Bitcoin market.
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