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Bitcoin (BTC) starts a new week in an altogether different mood as the weekly candle close brings a move higher.
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The largest cryptocurrency, still stuck in a narrow range, is at last showing signs of life after several spikes to two-month lows.
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short-term profit-taking sentiment among day traders pushed the price lower toward $27,850 later in the day.
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The last time the sell-side risk ratio was this low was in late 2015, which started the bull run that reached $20,000 in December 2017.
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Glassnode’s lead on-chain analyst Checkmate said in his comments on May 24 that the sell-side risk ratio metric suggests that “sellers are exhausted on both sides,” and that indicates big moves “are coming.”
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BTC was down against the altcoin leader by about 0.02%.
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