{"id":403633,"date":"2022-02-05T13:43:49","date_gmt":"2022-02-05T10:43:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-stays-higher-after-stocks-propel-btc-price-toward-42k\/"},"modified":"2022-02-05T13:43:49","modified_gmt":"2022-02-05T10:43:49","slug":"bitcoin-stays-higher-after-stocks-propel-btc-price-toward-42k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-stays-higher-after-stocks-propel-btc-price-toward-42k\/","title":{"rendered":"# Bitcoin stays higher after stocks propel BTC price toward $42K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41834a7ac18\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41834a7ac18\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-stays-higher-after-stocks-propel-btc-price-toward-42k\/#%E2%80%9CThe_only_good_bear_is_a_dead_bear%E2%80%9D\" >&#8220;The only good bear is a dead bear&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-stays-higher-after-stocks-propel-btc-price-toward-42k\/#Fear_lingers_for_wary_hodlers\" >Fear lingers for wary hodlers<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin stays higher after stocks propel BTC price toward $42K <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) held above $41,000 into the weekend after a late surge Friday took the largest cryptocurrency to two-week highs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/d2d429da-89e0-47bd-834b-8d65c0c1f63c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CThe_only_good_bear_is_a_dead_bear%E2%80%9D\"><\/span>&#8220;The only good bear is a dead bear&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed BTC\/USD maintaining newly re-won ground Saturday, with the pair&#8217;s correlation to stock makets firmly in focus.<\/p>\n<p>Analysts had highlighted the $39,600 area as a key line to cross and flip to new support in order to secure further upside. In the event, this was no issue for bulls, as Bitcoin &#8220;g<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed up&#8221; in seconds as it neared $40,000 to continue higher.<\/p>\n<p>Amid the newfound strength, the mood was conspicuously more buoyant than in recent days or even weeks.<\/p>\n<p>Popular analyst Credible Crypto compared current action to Q4 2020, in which Bitcoin challenged $12,000 prior to breaking three-year all-time highs.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Characteristic of a 1-2, 1-2 or start of a new impulse is strong moves up, shallow pullbacks, continuation. The first chart is from 11-12k before our breakout and run to 60k. The second chart is now, and what I expect to play out to further confirm our major 5th has started. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/gDvt4hsQoq\">pic.twitter.com\/gDvt4hsQoq<\/a><\/p>\n<p>\u2014 Credible Crypto (@CredibleCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CredibleCrypto\/status\/1489897678393774082?ref_src=twsrc%5Etfw\">February 5, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;The only good bear is a dead bear,&#8221; trader and analyst Pentoshi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1489768774555389957\">quipped<\/a>\u00a0as the market continued rising to spike to local highs of $42,000.<\/p>\n<p>Others were less convinced of the sustainability of the current move, with data showing considerable large-volume selling beginning as $40,000 reappeared.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">CT cheering about a break of 40k, but orders of size $100k+ are still selling this rip <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/IfACqoRBs5\">pic.twitter.com\/IfACqoRBs5<\/a><\/p>\n<p>\u2014 Material Scientist (@Mtrl_Scientist) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Mtrl_Scientist\/status\/1489646796121022469?ref_src=twsrc%5Etfw\">February 4, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Cointelegraph reported, signs had already been circulating that an uptick was due, thanks mainly to the time-tested relative strength index (RSI) breaking a two-month downtrend in late January.<\/p>\n<p>&#8220;Probably worth mentioning price is at historic levels of oversold to on-chain demand\/supply, and the futures traders have halted their sell-down,&#8221; statistician Willy Woo <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/woonomic\/status\/1489649247846731776\">commented<\/a> while comparing similar RSI breakouts.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fear_lingers_for_wary_hodlers\"><\/span>Fear lingers for wary hodlers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Turning to sentiment, the sense of caution characterizing the market since November&#8217;s $69,000 peak remained.<\/p>\n<p><strong><em>Related:\u00a0Price analysis 2\/4: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX<\/em><\/strong><\/p>\n<p>According to the Crypto Fear &amp; Greed Index, &#8220;fear&#8221; was still the overriding emotion among market participants, even after the price jump.<\/p>\n<p>The Index, which uses a basket of factors to produce a nominal sentiment score from 0-100, measured 33 at the time of writing, having spent most of January below 25 \u2014 the &#8220;extreme fear&#8221; zone.<\/p>\n<p>Nonetheless, the last time that the Index was so high was almost six weeks ago, just after Christmas.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/10805468-e7bf-4846-bcec-787237971606.png\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed Index (screenshot). Source: Alternative.me<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-stays-higher-after-stocks-propel-btc-price-toward-42k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin stays higher after stocks propel BTC price toward $42K &#8221; Bitcoin (BTC) held above $41,000 into the weekend after a late surge Friday took the largest cryptocurrency to two-week highs. BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView &#8220;The only good bear is a dead bear&#8221; Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD&#8230;<\/p>\n","protected":false},"author":1,"featured_media":403634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvZDllM2VkNzItZmJlMy00Nzc0LThkZjQtZDczN2U3ZGY0ODQ1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-403633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/403633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=403633"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/403633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/403634"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=403633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=403633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=403633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}