So Bitcoin could be at its best

Bitcoin lags behind Ethereum during this bullish cycle. The # 1 cryptocurrency by market capitalization performed best in the highest timeframes, with gains of 18.2% and a loss of 2.1% on the weekly and monthly chart, respectively. Meanwhile, ETH continued its price discovery with a seemingly unstoppable momentum. BTC is trading at $ 57,723 on the 1-hour chart and daily chart at the time of writing. But the cryptocurrency can benefit from Ethereum's attention. In April, the BTC market was extremely lifted, with many investors betting on a short-term valuation due to Coinbase's public market launch. BTC is moving sideways on the daily chart. Source: BTCUSD Tradingview When the cryptocurrency falls short of expectations, big sales occur. More than $ 10 billion in liquidations were recorded at that time, and the price of BTC fell from $ 47,000 to the critical support area. Santiment data show that the market has less leverage and is more likely to remain at its current level as Bitcoin's price improves. As the research firm says, the focus is on Ethereum and therefore BTC's funding rate on various currency platforms is low but on the rise. Santiment shared the following chart by stating the following: With the crypto public outlook increasingly focused on # Ethereum in recent weeks, the funding rate for Bitcoin in BitMEX and others has remained low. This means leveraged longs and enthusiastic acts are ineffective and a better than normal bet for $ BTC to rise. Source: Other data from Santiment Santiment show that Crow FUD and Disbelief Returns, a measure used to measure investor sentiment, indicate an overall negative perception of Bitcoin's price performance. The research firm said that this investor distrust coincided with a $ 10,000 price increase over the weekend, "ironically raising prices". Source: Bitcoin Holders Santiment Ha

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