Last week, on-chain analytics provider, Sentiment, concluded that dip buying sentiment is falling after observing some trends in the buying habits of Bitcoin traders. This comes at a time when Bitcoin prices have fallen after a rally that saw the cryptocurrency break the $30,000 mark.
In other news, investors seem to be moving towards the crypto project HedgeUp (HDUP). This was revealed after they were seen buying the project’s presale. Shiba Inu (SHIB) has also started attracting more investors than it has been able to in a long while. Read on to find out why.
Dip-Buying Sentiment Slides as Bitcoin Drops to Long-Term Support
On-chain analytic provider Sentiment has found out that Bitcoin traders have been hesitant to buy long-term big dips. Sentiment also observed that traders aren’t mentioning “buying the dip” as much, suggesting weak market sentiment towards this practice.
This is a little odd as Bitcoin’s value has dropped by close to 15% after its rally in mid-April that saw it almost reach $31000. According to Sentiment, it seems that this dip is not low enough to entice buying pressure.
Sentiment also reported that traders have been increasingly selling at a loss. The analytics firm used something known as the market-value-to-realized value (MVRV) metric to show this. It observed “restless crypto addresses” emptying their wallets and selling at a loss, an indication that the market seems a little dull to these traders.
Overall though, the Bitcoin Fear and Greed Index has remained neutral. It is currently sitting at 50. And according to Glassnode, Bitcoin’s value has dropped to long-term support.
The on-chain data platform noted that the cryptocurrency’s value has fallen to the golden Fibonacci ratio when of -61.8% when referenced against the previous bull market’s peak. This price stands at $26,200.
Investors Moving to HedgeUp (HDUP) and Shiba Inu (SHIB)
Keeping matters on-chain, an analysis of recent activity has revealed that investors are moving to the crypto project HedgeUp (HDUP). Some investors have also opted for the meme coin Shiba Inu (SHIB).
HedgeUp has been running a presale of its native crypto token HDUP). This presale has been a success so far given it is attracting investors from all corners of the world. So far, the presale has sold more than 135 million HDUP tokens and raised $1.97 million in the process.
HDUP is an attractive prospect for investors because of its never-seen-before utility. The token will serve as the utility and governance token of HedgeUp’s investment ecosystem, which includes a platform that lets users invest in alternative assets by buying and selling real asset-backed NFTs.
Experts predict that this utility will give HedgeUp (HDUP) an edge in the market. Projections have shown its value growing by at least 3000% before the year, which is more than any other utility token can offer.
Shiba Inu (SHIB) has also seen a recent increase in investor interest. It seems like the meme coin, which surprised everyone in the previous bull run with its massive returns, is still in good favor among traders.
Click the links below for more information about HedgeUp (HDUP) presale:
Last week, on-chain analytics provider, Sentiment, concluded that dip buying sentiment is falling after observing some trends in the buying habits of Bitcoin traders. This comes at a time when Bitcoin prices have fallen after a rally that saw the cryptocurrency break the $30,000 mark.
In other news, investors seem to be moving towards the crypto project HedgeUp (HDUP). This was revealed after they were seen buying the project’s presale. Shiba Inu (SHIB) has also started attracting more investors than it has been able to in a long while. Read on to find out why.
Dip-Buying Sentiment Slides as Bitcoin Drops to Long-Term Support
On-chain analytic provider Sentiment has found out that Bitcoin traders have been hesitant to buy long-term big dips. Sentiment also observed that traders aren’t mentioning “buying the dip” as much, suggesting weak market sentiment towards this practice.
This is a little odd as Bitcoin’s value has dropped by close to 15% after its rally in mid-April that saw it almost reach $31000. According to Sentiment, it seems that this dip is not low enough to entice buying pressure.
Sentiment also reported that traders have been increasingly selling at a loss. The analytics firm used something known as the market-value-to-realized value (MVRV) metric to show this. It observed “restless crypto addresses” emptying their wallets and selling at a loss, an indication that the market seems a little dull to these traders.
Overall though, the Bitcoin Fear and Greed Index has remained neutral. It is currently sitting at 50. And according to Glassnode, Bitcoin’s value has dropped to long-term support.
The on-chain data platform noted that the cryptocurrency’s value has fallen to the golden Fibonacci ratio when of -61.8% when referenced against the previous bull market’s peak. This price stands at $26,200.
Investors Moving to HedgeUp (HDUP) and Shiba Inu (SHIB)
Keeping matters on-chain, an analysis of recent activity has revealed that investors are moving to the crypto project HedgeUp (HDUP). Some investors have also opted for the meme coin Shiba Inu (SHIB).
HedgeUp has been running a presale of its native crypto token HDUP). This presale has been a success so far given it is attracting investors from all corners of the world. So far, the presale has sold more than 135 million HDUP tokens and raised $1.97 million in the process.
HDUP is an attractive prospect for investors because of its never-seen-before utility. The token will serve as the utility and governance token of HedgeUp’s investment ecosystem, which includes a platform that lets users invest in alternative assets by buying and selling real asset-backed NFTs.
Experts predict that this utility will give HedgeUp (HDUP) an edge in the market. Projections have shown its value growing by at least 3000% before the year, which is more than any other utility token can offer.
Shiba Inu (SHIB) has also seen a recent increase in investor interest. It seems like the meme coin, which surprised everyone in the previous bull run with its massive returns, is still in good favor among traders.
Click the links below for more information about HedgeUp (HDUP) presale: