Misleading crypto narratives continue, driven by 'sensationalist' sentiment

A crypto expert says inaccurate narratives inactive circulate successful the cryptocurrency market, chiefly based connected skewed accusation alternatively than onchain information to backmost it up.

“Beware of misinformation. Despite the data, misleading narratives persist,” CryptoQuant contributor “onchained,” said successful a March 22 marketplace report.

“Such claims often deficiency onchain validation and are driven by sensationalist marketplace sentiment alternatively than nonsubjective analysis,” the expert said, adding:

Onchained pointed to the caller movements of Bitcoin (BTC) semipermanent holders (LTH) — those holding for implicit 155 days — arsenic an illustration of mendacious narratives clashing with existent data.

The expert pointed retired that portion immoderate narratives assertion Bitcoin semipermanent holders are “capitulating,” the information shows they’re remaining consistent. “The information leaves nary country for speculation,” Onchained said.

The Inactive Supply Shift Index (ISSI) — which measures the grade to which long-dormant Bitcoin proviso is shifting — “shows nary meaningful LTH selling pressure, reinforcing a communicative of structural request outpacing supply,” Onchained said.

Narratives are ever being challenged

Crypto analytics level Glassnode recently made a akin observation based connected data, saying, “Long-Term Holder enactment remains mostly subdued, with a notable diminution successful their sell-side pressure.”

Crypto marketplace narratives are perpetually changing and being challenged.

One long-standing crypto communicative nether statement is the relevance of the 4-year rhythm theory, which suggests that Bitcoin’s terms follows a predictable signifier tied to its halving lawsuit each 4 years.

Source: Tomas Greif

MN Trading Capital laminitis Michael van de Poppe said successful a March 22 X post, “I presume that we tin erase the full 4-year rhythm mentation and that we’re successful a longer rhythm for Altcoins.” 

Related: Crypto markets volition beryllium pressured by commercialized wars until April: Analyst

Echoing a akin sentiment, Bitwise Invest main concern serviceman Matt Hougan precocious said that “the accepted four-year rhythm is implicit successful crypto” owed to the caller alteration successful the US government’s stance.

“Crypto has moved successful four-year cycles since its earliest days. But the alteration successful DC introduces a caller question that volition play retired implicit a decade,” Hougan said.

Alongside this, immoderate analysts are adjacent debating whether the full Bitcoin bull marketplace is over.

CryptoQuant laminitis and CEO Ki Young Ju said successful a March 17 X post, “Bitcoin bull rhythm is over, expecting 6-12 months of bearish oregon sideways terms action.”

Ju said each Bitcoin onchain metrics bespeak a carnivore market. “With caller liquidity drying up, caller whales are selling Bitcoin astatine little prices,” Ju said. 

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