4 Signs of A Bullish Phase Amid Market Recovery – Crypto News – Crypto News
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4 Signs of A Bullish Phase Amid Market Recovery 4 Signs of A Bullish Phase Amid Market Recovery

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4 Signs of A Bullish Phase Amid Market Recovery – Crypto News

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Crypto assets are gaining positive numbers today and might hit a bullish phase after previous days in the woods. Bitcoin (BTC), altcoins, and meme coins plummeted last week as the price of the market leader slumped below $70k amid other macroeconomic factors. However, the last 24 hours saw a 0.40% increase in the market cap raising figures to $2.42 trillion after massive liquidations.

As crypto assets attempt a rebound, many users feel it might be a short-term correction without a major bullish phase. Short-term bull run can also drag assets to previous positions before a decline. Several factors characterize a bullish phase including the activities of whales and a shift in regulatory policies. Here are four signs of a bullish phase as the market recovers.

Whale Activities

Crypto whales and miners can swing the market due to the size of their holdings. Over the years, whales accumulating a token leads to a price action because of the signals it sends to users. Large-scale holders accumulating assets is a sign of a bullish phase because of the anticipated price action. On the other hand, whales selling their crypto holdings show low sentiments. 

Bitcoin Reclaiming Resistance

Market leader, Bitcoin trades at $66,125 and is used to gauge the performance of crypto assets. Bitcoin plunging can drive prices downward and this also implies an upsurge. This year BTC price hit an all-time high above $73,000 with altcoins and meme coins also recording gains. If the asset soars above $70,000 this week, other coins will rally behind.

Decentralized Finance Volumes 

One check of a healthy market is inflows to decentralized finance (DeFi) protocols. Bull markets record a spike in figures as adoption and asset prices grow. If the DeFi ecosystem rebounds in short-term trading, it’s a sign of a positive run in the market. Bull peaks also lead to higher assets under management (AUM). 

Outflows from Exchange

Lower coins on exchange books are a sign of a bullish phase. Crypto users sending assets away from exchanges to other custodians signified long-term positions while sending assets to centralized exchanges points to a potential sale in the market. This also implies to Bitcoin miners sending their rewards to exchanges.

Also Read: Toncoin (TON) v Uniswap (UNI): Where Will Bulls Settle?

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David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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