Matrixport: Bitcoin rebounds 5%, driven mainly by technical momentum
ChainCatcher message, Matrixport released a chart report indicating that yesterday, we noticed that the Bitcoin Greed and Fear Index hit a low.
In the past 24 hours, Bitcoin rebounded by 5%, once again validating the effectiveness of this indicator. At the same time, Bitcoin rebounded at the lower boundary of the downward channel, as traders expected.
The current market is mainly driven by technical momentum, reacting to these signals until new fundamentals emerge.
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