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According to a December 20 post by Greeks.live, a trading tools solutions provider for crypto options traders, bullish sentiment is evident in the bitcoin market.
The report states that while the market has been relatively calm today, bitcoin (btc) has seen upward moves across all major terms, implying volatility (IV).
Also noted in the post on Even amid the recent rally, the eth market is said to be predominantly influenced by block sale operations. The publication concludes that long positions are currently concentrated in btc, while short positions dominate in eth.
An hour later, an update indicated that long positions continued to dominate btc, while short positions continued to dominate eth.
Previous reports on December 19 indicated a positive turn for btc as it gained momentum following a local low of around $40,500 on December 18. A crucial indicator, the Relative Strength Index (RSI), exhibited bullish trends, maintaining a position around the 50 mark, suggesting greater potential for bullish momentum.
This price increase is due to the continued enthusiasm around bitcoin Spot ETF endorsements and updates provided by notable Bloomberg Intelligence analysts like James Seyffart, which, while quiet today, prevailed earlier this week.
