Editor's PiCK
[Analysis] "Bitcoin (BTC) Risk Index Surges… Potential for Further Decline and Volatility Warning"
Summary
- Bitcoin's risk index has surged, warning of increased volatility and the potential for further declines.
- Bitcoin is currently trading between $92,000 and $100,000 after turning bearish last year.
- Experts advise a cautious approach to Bitcoin investment due to the increase in the risk index.
The risk index of Bitcoin (BTC) has recently surged, indicating that volatility may increase, warranting caution.
On the 13th, 'Negentropic', the account of the Glassnode founder, stated on X (formerly Twitter), "Bitcoin has once again shown a steep bearish turn since April last year," adding, "Although the downward momentum is recovering, the risk index has surged, suggesting that future volatility may increase."
The Bitcoin risk index, which had maintained a level of 0 since September last year, has surged to 12 as of today. A surge in the risk index can increase the likelihood of further declines.
Negentropic added, "Bitcoin is moving between $92,000 and $100,000, but negative signals are emerging, necessitating a cautious approach."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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