Bullish: Bitcoin Marks First Green Weekly Close After Two Months In The Red

Bitcoin has been marking multiple weeks of consecutive red closes. This has been the case for the last two months when the leading cryptocurrency had seen 9 consecutive weeks of red closes. Unsurprisingly, this had pained a very bearish image for the digital asset. However, it seems the tide has begun to turn as bitcoin has now ended its streak. A break above $30,000 in the early hours of Monday put BTC in its first weekly close in more than two months. Better Days Ahead For Bitcoin? While the price of bitcoin has been in recovery, it does not exactly erase more than two months of bearish trends. This first green in a long line of reds does not automatically trigger a bull trend for the digital asset. What it does, however, is show that investor sentiment is starting to turn for the better. No doubt the sellers will continue to dominate the market for the better part of the next week but an uptick in positive inflows is expected from here. Related Reading | Brace For Impact: Bitcoin Miners Have Begun Dumping Their Holdings Bitcoin has not had a green weekly close since the month of March. Even before then, sentiment had turned for the worse. This continues into the new week as the Fear & Greed Index is currently sitting at 13, putting it in extreme fear. BTC’s rise above $32,000 last week had worked to help ease the fear in the market but negative sentiment had returned once more with the crash below $29,000. BTC sett...