U.Today’s technical stability is something that many centralized systems can only dream of, as the asset has been running without any major disruptions for the past 15 years. In addition to technical stability, BTC can also offer monetary growth, especially in the medium term.
Market Type: Bitcoin’s score on the Market Type metric currently stands at 7, which is the same as last week but much lower than the 52-week average of 41. Compared to the volatility of the previous year, this suggests a comparatively stable market environment.
Market Risk: The environment is low risk, as evidenced by the market risk indicator remaining at zero. This represents a significant decrease from the high risk score of 50 last week and below the 52-week average of 22. This implies that compared to earlier this year, Bitcoin is now considered a safer investment option.
Price Momentum: The Price Momentum metric indicates a bearish attitude, reading -24. While still negative, this is better than the previous week's -60, showing generally positive momentum. The 52-week average is 18, indicating that although momentum is negative in the short term, there may be reasons for hope when it turns positive.
On-chain fundamentals: With a score of 54, this area of the market is neutral. The 52-week average of 52 is in line with this score, which is similar to last week. Based on network activity and health, this stability in on-chain fundamentals points to a balanced outlook and recovery potential for BTC.
Unfortunately, the market started this week on the wrong foot, as numerous assets suffered minor corrections. The situation can still improve, as inflows usually take a few days to occur.
This article was originally published on U.Today
