- Bitcoin’s investor confidence has been strong lately, with the trust index with a lecture of 0.75
- Cryptocurrency alone won 0.92% over the last 24 hours
For the first time in 2 weeks, Bitcoin [BTC] Noted profits on two consecutive days. In fact, at the time of writing, Bitcoin [BTC] acted at $ 97,640, after an increase of 1% in the charts. This also seemed to be the bullish look of the cryptocurrency on the weekly graphs.
Although BTC now continues to act sideways, some stakeholders are not worried. Cryptoquant analyst Frost, for example, projected optimism – a sign that the trust of investors still remains strong on the market.
Investors’ confidence remains high for Bitcoin
In his analysis, Prince The ruling market conditions suggest that Bitcoin investors still expect the price of the crypto.
According to him, while a high reliability index usually takes place in a bull market, one follows as soon as it approaches 1, a market top. At the time of writing, the trust index was around 0.75.
Source: Alfractaal
Conversely, when these indicators fall up to almost zero, this has always indicated a potential market base.
At the time of writing, the index seemed to approach that threshold-a sign that a potential accumulation option in the long term can be around the corner.
Simply put, although the market currently has a considerable bullish momentum, it should not achieve an extreme euphoria.
What do the graphs say?
Although the aforementioned analysis offered a promising prospect to investors, it is also essential to determine what other indicators say.
Source: Bitbo
To begin with, the offer of the long -term holder of Bitcoin continued to rise, which indicates strong confidence among the LTHs.
When this rises, this means that long-term holders do not sell their BTC indication for strong market confidence.
Source: Bitbo
Moreover, Bitcoin’s NUPL has remained within the faith/denial phase, indicating the growing positive sentiments of investors.
This is because most holders have winnings and they still believe in the rally. Historically, BTC has risen when the NUPL has been to this level. For example, in 2021 Bitcoin’s Nupl hit 0.75% when it was first rated at $ 64k.
Source: Messari
Likewise, Bitcoin’s efficiency is still very attractive for investors. For example, the long-term Sharpe ratio became positive, which implies that the risk for investment for BTC is lower compared to traditional assets. That is why the Sharpe ratio seemed to suggest that investors can have very confidence in the BTC marketing.
Simply put, Bitcoin is still supported by strong investor confidence. With long -term holders still bullish, BTC can be well positioned for more growth. If the current circumstances are in force, we could see the cryptocurrency reclaim from $ 99,436 and try $ 100k again. With a strong volatility in the market, however, a withdrawal would also be no surprise.