Bitcoin Faces Fresh Decline Amid Faltering Market Sentiment
Bitcoin is sliding once more,now trading below the $113,000 level. Today’s price dip puts BTC down 2.5%,according to cryptocurrency tracking site crypto.news. this fall follows a short-lived rally that saw Bitcoin near $118,000 this week. It’s a reminder of the ongoing volatility and unpredictability in the world of digital currencies.
Technical signals are pointing towards caution. the RSI of Bitcoin has fallen to 45.57, suggesting reduced momentum. Moreover, the MACD is showing bearish signals as buyers back off. High futures volume adds to the speculative surroundings.
On-chain analysis by CryptoQuant researcher,Joao Wedson, paints a clearer picture. His findings show a Bitcoin profit ratio trending downwards, signaling profitability exhaustion. The Short-Term Holder Realized Price at $111,400 stands as a critical level, especially for big investors who missed early entry opportunities.
- The Sharpe Ratio indicates decreased risk-adjusted returns compared to 2024.
- The Altcoin Season Index has fallen from 78 to 64, indicating weakening interest.
Top altcoins including Ethereum, XRP, Solana, Dogecoin, and Cardano are also sliding, experiencing drops between 5–11%. Despite some hopes for an altcoin surge, current indicators suggest the market remains bearish across the board.
