27-11-24
BTC 4-hour chart update (96223)
Fear and Greed: 75 (Greed), yesterday 79 (Ex, Greed)
BTC Dominance: 58.48% Dominance has decreased from yesterday
Price action: Price is up over 4.5% and has regained its 4 hour ema ribbon.
Premium Index: PI has decreased since yesterday and currently at 0.0536 %.
Funding Rates: FR has decreased since yesterday and currently at 0.0196 %.
Open Interest: OI is at $63.212 B which has increased from yesterday
Volume: Vol. is at $42.256 B which has decreased from yesterday
To conclude: Current market sentiment for Bitcoin is cautiously optimistic. Recent declines in funding rates and premium index suggest a moderation of excessive bullishness. This could pave the way for potential stability or even an uptrend, provided buying pressure persists. Reduced trading volume signal decreased market liquidity, hinting at a potential consolidation phase. Increase in open interest may lead to volatility. Therefore, traders must remain cautious, but it is not bearish.