Bitcoin has ended its longest bearish streak to date
, the largest cryptocurrency, has finally ended its worst bearish streak to date after scoring a green candle on its weekly chart.The flagship coin has narrowly avoided scoring the tenth consecutive candle in the red.
The largest cryptocurrency is up 4.47% over the last 24 hours. It is currently trading at $31,189 on the Bitstamp exchange. Bitcoin is still down 32.5% since the start of the year, meaning that bears remain firmly in the driver’s seat.In the meantime, bearish market sentiment continues to persist. The Fear & Greed Index continues to show “extreme fear.”
As reported by U.Today, on-chain analysis shows that most short-term holders have now capitulated amid the most recent correction. Bitcoin’s most recent price spike may still end up being a flash in the pan. On May 1, the largest cryptocurrency spiked to $32,375, the highest level in three weeks, but it ended up erasing its gains the following day and then came perilously close to scoring yet another week in the red.