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EOS, STX, IMX and MKR show bullish signs as Bitcoin searches for direction

Published 03/05/2023, 03:08 PM
Updated 03/05/2023, 04:40 PM
© Reuters.

The United States equities markets made a strong recovery this week but Bitcoin (BTC) failed to follow suit. This means that cryptocurrency investors stayed away and could be worried by the ongoing problems at Silvergate bank. These fears could be what is behind the total crypto market capitalization dropping to nearly $1 trillion.

The behavior analytics platform Santiment said in a report on March 5 that there was a “huge spike of bearish sentiment” according to their bullish versus bearish word comparison Social Trends chart. However, the firm added that th “kind of overwhelmingly bearish sentiment can lead to a nice bounce to silence the critics.”

Crypto market data daily view. Source: Coin360
BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
EOS/USDT daily chart. Source: TradingView
EOS/USDT 4-hour chart. Source: TradingView
STX/USDT daily chart. Source: TradingView
STX/USDT 4-hour chart. Source: TradingView
IMX/USDT daily chart. Source: TradingView
IMX/USDT 4-hour chart. Source: TradingView
MKR/USDT daily chart. Source: TradingView
MKR/USDT 4-hour chart. Source: TradingView

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