Bitcoin Sentiment: Bullish or Bearish? | BITmarkets
Insights Analysis Bitcoin Sentiment: Bullish or Bearish?

Bitcoin Sentiment: Bullish or Bearish?

April 28, 2023 Analysis
BITmarkets | Bitcoin Sentiment: Bullish or Bearish?

Trader sentiment for Bitcoin (BTC) does not seem to be more on the bullish nor bearish side as May lingers around. Some believe that the crypto winter is over, and that the OG coin is set to grow, while others, on the contrary, believe that Bitcoin will fall to new all-time lows.

Coinglass1.1

BTC Long/Short Ratio

Source: Coinglass

According to data from Coinglass, the BTC long/short ratio is quite balanced. Different exchanges have one side slightly outweighing the other, but on average, it’s more or less 50-50. Bitcoin believers expect BTC to re-surge to $60,000 once more.

Others remain uncertain and perhaps will ‘Sell in May and Go Away’, which refers to an investment strategy for stocks based on the theory that stocks underperform the most in the six-month period between May and October, before witnessing robust growth between November and April.

Sent1.1

What about cryptocurrencies? Well, in the past two years, the theory has been proven right within the cryptocurrency markets. In May 2021, Bitcoin was in demise and lost nearly 50% of its value during the month, and May of 2022 had no mercy for BTC either. What's next for Bitcoin?

Back to Analysis
Join

Try to invite your friends and earn together

10% of trading fees of your friends and 5% from the earnings of your friends.

Start earning

We use cookies to store, access and process personal data to give you the best online experience. By clicking Accept Cookies you consent to storing all cookies and ensure best website performance. You can modify cookie preferences or withdraw consent by clicking Cookie Settings. To find out more about cookies and purposes, read our Cookie Policy and Privacy Policy

Cookies settings

Cookie Control

What are cookies?

Cookies are small text files that enable us, and our service provides to uniquely identify your browser or device. Cookies normally work by assigning a unique number to your device and are stored on your browser by the websites that you visit as well as third-party service providers for those website. By the term cookies other technologies as SDKs, pixels and local storage are to be considered.

If Enabled

We may recognize you as a customer which enables customized services, content and advertising, services effectiveness and device recognition for enhanced security
We may improve your experience based on your previous session
We can keep track of your preferences and personalize services
We can improve the performance of Website.

If Disabled

We won't be able to remember your previous sessions, that won't allow us to tailor the website according to your preferences
Some features might not be available and user experience reduced without cookies

Strictly necessary

Strictly necessary means that essential functions of the Website can not be provided without using them. Because these cookies are essential for the properly working and secure of Website features and services, you cannot opt-out of using these technologies. You can still block them within your browser, but it might cause the disfunction of basic website features.

  • Setting privacy preferences
  • Secure log in
  • Secure connection during the usage of services
  • Filling forms

Performance and Functionality

Analytics and performance tracking technologies to analyze how you use the Website.

  • Most viewed pages
  • Interaction with content
  • Error analysis
  • Testing and Measuring various design effectivity

Advertising and Marketing

The Website may use third-party advertising and marketing technologies.

  • Promote our services on other platforms and websites
  • Measure the effectiveness of our campaigns