The crypto market is on the verge of previous extremes
Market picture
The crypto market cap increased by another 1% to $3.31 trillion, reaching the threshold of increased volatility. Just above that, in the $3.40–3.55 trillion range, is a turning point, which has activated sellers and prevented the market from consolidating higher.
The cryptocurrency sentiment index is at 74, just 1 point below the ‘extreme greed’ zone and in the range of the highs of the second half of May. At that time, the market capitalisation was at approximately the same level.
Since the end of Wednesday, Bitcoin has been testing the $108K mark, but it will sell off when it touches this level. Over the past couple of days, we have seen a smooth but steady intraday uptrend, accompanied by heavy…
