Market Overview

On Monday morning, the crypto market capitalisation retreated to $2.16T from the $2.20T region, where we also saw increased selling pressure in the middle of last month. In the short term, market capitalisation remains below the 50-day moving average, showing no signs of a shift to a bullish trend.

The sentiment index has risen to 28, as without fresh downward price momentum, the indicator tends to move towards neutral territory. Current readings are the highest since early June, but, as in May, we urge caution against concluding that a bull market has returned until sentiment consolidates above the 50 level – something that has not been achieved since last September.

Bitcoin technically closed the week at its…