Analysis: The current market is in a risk-on mode, and bitcoin sellers may soon disappear

ChainCatcher News: Crypto trader Ran Neuner posted that the current market is completely in risk-on mode, but most people are unaware because the price of bitcoin has not fluctuated significantly.

Currently, the price of silver has reached a historic high and is in a breakout and accelerating upward phase. Silver is the beta coefficient of gold, indicating risk appetite; ETH/BTC has now broken above the 50-week moving average and continues to climb, with ETH representing risk appetite in the crypto market; the Russell 2000 index has also broken out, representing risk appetite in the stock market; in addition, the money printer has started, and the Federal Reserve has shifted to quantitative easing earlier than expected.

He stated that bitcoin sellers will soon disappear, and a large-scale catch-up trade is about to begin.