Bitcoin price slipped down to $61.3K in the past 24 hours.
The fear and greed index stays at 41, likely to halt BTC’s expected bull run.
October is referred to as the “uptober” month, known for the upward momentum of the cryptocurrency market. Despite that, Bitcoin is suffering to regain its price. The largest cryptocurrency is currently trading above the $61K mark; a brief recovery has been made over the past 24 hours.
On the other hand, the Ali chart notes that each time the MVRV ratio has been rejected from its 90-day average since May, Bitcoin has experienced a remarkable price drop. The latest rejection has led to a 10% decline in BTC price, inferring the possibility of further dips, which urges caution for investors.
The current market volatility has kept the asset from making a notable upward movement. Over the past 24 hours, the asset has spiked by 1.19%. BTC traded at a peak of $61,630; also, its lowest price was marked at $59,878, suggesting the beari
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