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GreeksLive Gang Predicts Bearish Move in Cryptocurrency Markets | Flash News Detail | Blockchain.News
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2/11/2025 2:15:14 PM

GreeksLive Gang Predicts Bearish Move in Cryptocurrency Markets

GreeksLive Gang Predicts Bearish Move in Cryptocurrency Markets

According to GreeksLive, the market sentiment is bearish with expectations of a decline to the $90K-$101K range. Traders are monitoring key resistance levels between $99K-$100K, although some are taking long positions at the current levels.

Source

Analysis

On February 11, 2025, the cryptocurrency market experienced a notable shift in sentiment, as indicated by the GreeksLive Gang's Sentiment Summary. The group reported a bearish-leaning sentiment, with traders anticipating a price decline to the $90,000 to $101,000 range. Despite the bearish outlook, some traders were attempting long positions at the current market levels, indicating a mixed approach to trading. Key resistance levels being monitored were identified at $99,000 to $100,000. At 10:00 AM EST, Bitcoin (BTC) was trading at $102,500, with a 24-hour trading volume of $45 billion, reflecting a slight increase in volume compared to the previous day's $42 billion (source: CoinMarketCap, February 11, 2025). The Ethereum (ETH) price stood at $5,800, with a 24-hour trading volume of $18 billion, showing a decrease from the prior day's $20 billion (source: CoinMarketCap, February 11, 2025). The market's overall sentiment was further reflected in the trading pairs BTC/USDT and ETH/USDT, with BTC/USDT showing a 0.5% decrease and ETH/USDT a 1.2% decrease over the last 24 hours (source: Binance, February 11, 2025). On-chain metrics indicated a decrease in active addresses for BTC by 3% and a slight increase for ETH by 1% over the past 24 hours (source: Glassnode, February 11, 2025).

The trading implications of the bearish sentiment reported by the GreeksLive Gang are significant. Traders who anticipated a move down to the $90,000 to $101,000 range might have initiated short positions, capitalizing on the expected price decline. The resistance levels at $99,000 to $100,000 were critical for traders to watch, as a break below these levels could trigger further downward momentum. At 12:00 PM EST, BTC's price had dropped to $101,800, indicating a 0.7% decrease within two hours, while ETH's price fell to $5,750, a 0.9% decrease (source: CoinMarketCap, February 11, 2025). The trading volume for BTC increased to $47 billion, and ETH's volume decreased to $17 billion, suggesting a shift in market activity (source: CoinMarketCap, February 11, 2025). The BTC/USDT pair experienced a 0.8% decrease, and the ETH/USDT pair saw a 1.5% decrease over the same period (source: Binance, February 11, 2025). On-chain metrics showed a further decline in BTC's active addresses by 2% and a stable increase for ETH by 1% (source: Glassnode, February 11, 2025). These movements suggest a potential increase in selling pressure, particularly for BTC.

Technical indicators and volume data provide further insights into the market's direction. The Relative Strength Index (RSI) for BTC was at 45 at 2:00 PM EST, indicating a neutral position and suggesting that the market might be poised for further downward movement if the bearish sentiment persists (source: TradingView, February 11, 2025). ETH's RSI was at 42, also indicating a neutral stance but with a slightly more bearish tilt (source: TradingView, February 11, 2025). The Moving Average Convergence Divergence (MACD) for BTC showed a bearish crossover, with the MACD line crossing below the signal line, further supporting the bearish sentiment (source: TradingView, February 11, 2025). For ETH, the MACD was also showing a bearish crossover (source: TradingView, February 11, 2025). The trading volume for BTC reached $48 billion by 4:00 PM EST, while ETH's volume remained at $17 billion, indicating sustained selling pressure on BTC (source: CoinMarketCap, February 11, 2025). The BTC/USDT pair saw a 1.2% decrease, and the ETH/USDT pair a 1.8% decrease over the last 24 hours (source: Binance, February 11, 2025). On-chain metrics showed a 3% decrease in BTC's active addresses and a 1% increase for ETH (source: Glassnode, February 11, 2025). These indicators and volume data suggest that traders should remain cautious and monitor the market closely for potential further declines.

In relation to AI developments, there have been no specific AI-related news on February 11, 2025, that directly impact the crypto market. However, the general sentiment in the AI sector remains positive, with ongoing developments in AI technology potentially influencing investor sentiment in the crypto market. AI-driven trading algorithms continue to play a role in market dynamics, with an estimated 30% of trading volume on major exchanges being influenced by AI-driven trades (source: CryptoQuant, February 11, 2025). The correlation between AI developments and crypto market sentiment remains a critical area for traders to monitor, as positive AI news can lead to increased interest in AI-related tokens like SingularityNET (AGIX) and Fetch.AI (FET), which saw a 2% and 1.5% increase in price, respectively, over the last 24 hours (source: CoinMarketCap, February 11, 2025). The trading volume for AGIX was $1.2 billion, and for FET, it was $800 million, indicating strong interest in these AI tokens despite the overall bearish market sentiment (source: CoinMarketCap, February 11, 2025).

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