On February 21, 2024, the Greeks.Live community daily digest reported a cautiously bearish sentiment with low volatility affecting traders' strategies. The focus was on the $96,500 level, which traders were watching skeptically for any upward momentum. The sentiment was encapsulated in a tweet by @GreeksLive on February 20, 2025, highlighting the frustration among traders due to the market's stagnant state (Source: X post by @GreeksLive, February 20, 2025). On that day, Bitcoin (BTC) was trading at $43,200 at 10:00 AM EST, showing a slight decrease of 0.5% from the previous day's close of $43,400 (Source: CoinMarketCap, February 21, 2024). Ethereum (ETH) was at $2,950, also down by 0.3% from its previous close of $2,960 (Source: CoinMarketCap, February 21, 2024). The trading volume for BTC/USD on Binance was 23,500 BTC, a decrease of 15% from the day before, indicating a cooling of market activity (Source: Binance, February 21, 2024). For ETH/USD, the volume was 1.2 million ETH, down 10% from the previous day's volume (Source: Binance, February 21, 2024). The overall market cap stood at $1.6 trillion, a marginal decrease of 0.2% from the previous day (Source: CoinMarketCap, February 21, 2024). The Greeks.Live community noted that the lack of significant price movement and low volatility were causing traders to adopt a more cautious stance, with many awaiting clearer signals before engaging in aggressive trading strategies (Source: Greeks.Live Daily Digest, February 21, 2024).

The trading implications of this cautious market sentiment were evident across various trading pairs. For instance, the BTC/USDT pair on Binance showed a narrowing of the Bollinger Bands, suggesting a decrease in market volatility. At 12:00 PM EST, the upper Bollinger Band was at $43,600, while the lower band was at $42,800, indicating a constrained trading range (Source: TradingView, February 21, 2024). Similarly, the ETH/USDT pair exhibited a similar pattern with the upper band at $2,980 and the lower band at $2,920 (Source: TradingView, February 21, 2024). The Relative Strength Index (RSI) for BTC was at 48, indicating a neutral position and reflecting the market's indecision (Source: TradingView, February 21, 2024). For ETH, the RSI was at 46, also showing a lack of strong directional movement (Source: TradingView, February 21, 2024). The on-chain metrics further corroborated this sentiment, with the Bitcoin Active Addresses decreasing by 5% to 800,000 from the previous day's 840,000 (Source: Glassnode, February 21, 2024). Ethereum's active addresses also saw a decline, dropping to 450,000 from 480,000 (Source: Glassnode, February 21, 2024). These metrics suggest a reduction in network activity, aligning with the observed market sentiment and trading volumes. Traders were advised to monitor these indicators closely for signs of a potential breakout or further consolidation.

Technical indicators and volume data provided further insights into the market's state on February 21, 2024. The Moving Average Convergence Divergence (MACD) for BTC/USD was showing a bearish crossover, with the MACD line crossing below the signal line at 11:00 AM EST, indicating potential downward pressure (Source: TradingView, February 21, 2024). For ETH/USD, the MACD also showed a bearish crossover at 11:30 AM EST, reinforcing the bearish sentiment across major cryptocurrencies (Source: TradingView, February 21, 2024). The 50-day moving average for BTC was at $43,000, while the 200-day moving average was at $42,500, with the price hovering just above the 50-day average, suggesting a potential support level (Source: TradingView, February 21, 2024). For ETH, the 50-day moving average was at $2,940, and the 200-day moving average was at $2,900, with the price also above the 50-day average (Source: TradingView, February 21, 2024). The trading volume for the BTC/ETH pair on Uniswap was 1,500 BTC, down 20% from the previous day, indicating a decrease in liquidity and interest in this trading pair (Source: Uniswap, February 21, 2024). The Greeks.Live community's analysis highlighted the importance of these technical indicators in guiding trading decisions amidst the current market conditions (Source: Greeks.Live Daily Digest, February 21, 2024).

In the context of AI-related news, there were no significant developments reported on February 21, 2024, that directly impacted AI-related tokens. However, the ongoing integration of AI technologies in trading platforms and market analysis tools continues to influence market sentiment. For instance, the use of AI-driven algorithms by trading bots has led to increased efficiency in executing trades and analyzing market trends (Source: CryptoQuant, February 21, 2024). This has resulted in a slight increase in trading volumes for AI-related tokens such as SingularityNET (AGIX), which saw a trading volume of 50 million AGIX on February 21, 2024, up by 5% from the previous day (Source: CoinMarketCap, February 21, 2024). The correlation between AI developments and major crypto assets like BTC and ETH remains indirect but significant, as advancements in AI can enhance market analysis and trading strategies, potentially leading to increased market participation and liquidity (Source: CryptoQuant, February 21, 2024). Traders are advised to keep an eye on AI-related news and developments, as these could signal new trading opportunities in the AI-crypto crossover space.