{"id":134868,"date":"2024-08-05T08:00:00","date_gmt":"2024-08-05T05:00:00","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134868"},"modified":"2024-08-05T00:29:24","modified_gmt":"2024-08-04T21:29:24","slug":"bitcoin-faces-risk-of-further-price-crash-what-to-expect","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-faces-risk-of-further-price-crash-what-to-expect\/","title":{"rendered":"Bitcoin Faces Risk of Further Price Crash – What to Expect"},"content":{"rendered":"

This price drop suggests a potential buying opportunity, yet trader activity indicates reluctance to invest during this dip.<\/p>\n

An important indicator, Bitcoin\u2019s<\/a> <\/strong>market value to realized value (MVRV) ratio, suggests the cryptocurrency might be undervalued. Santiment reports negative MVRV ratios for 30-day and 90-day periods, both below zero, signaling that Bitcoin\u2019s market price is lower than the average purchase price of its tokens.<\/p>\n

\"btc<\/p>\n

Typically, a negative MVRV ratio points to a good buying opportunity, but traders are currently cautious, fearing further declines.<\/p>\n

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The BTC Fear and Greed Index stands at 34, reflecting a fearful market sentiment. On-chain data provider Santiment notes that unlike a similar dip in early July, current market participants are not eager to buy the dip.<\/p>\n

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\ud83e\udd37 With this dip being roughly on par to the one we saw in early July, the same crowd enthusiasm for dip buying isn\u2019t present\u2026 at least not yet. Look for $60K BTC or $2.9K ETH to be key psychological levels that may be enough for traders to open their wallets. pic.twitter.com\/rRSVFMY4AW<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) August 3, 2024<\/a><\/p><\/blockquote>\n