đđSantiment Says Bitcoin is Bullish: A Rare Situation Happened in 3 Years! đđ
If Bitcoin lags behind a period where the S&P 500 and stocks are performing strongly, it could be a sign of a potential bull run. Although it closed the week with a slight recovery, Bitcoin's latest decline occurred at a time of this strong performance. In the post of on-chain data and analysis platform Santiment on July 12, it was noted that this situation is a rare development in the last 3 years.
In the statement, "Although Bitcoin closed the week with a slight recovery, it experienced the last decline together with the rise of the S&P 500 and stocks. This is an uncommon situation in the last 3 years. Generally, cryptocurrencies rise in parallel with stocks. BTC is left behind." "This indicates a catch-up period for the bull market," the statement said.
The fact that Bitcoin remains behind in this process suggests that it may create an opportunity for a bull run in the markets. It is predicted that Bitcoin, which normally moves in parallel with US stocks, will shift to cryptocurrencies at some point.
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