🎉 Share Your 2025 Year-End Summary & Win $10,000 Sharing Rewards!
Reflect on your year with Gate and share your report on Square for a chance to win $10,000!
👇 How to Join:
1️⃣ Click to check your Year-End Summary: https://www.gate.com/competition/your-year-in-review-2025
2️⃣ After viewing, share it on social media or Gate Square using the "Share" button
3️⃣ Invite friends to like, comment, and share. More interactions, higher chances of winning!
🎁 Generous Prizes:
1️⃣ Daily Lucky Winner: 1 winner per day gets $30 GT, a branded hoodie, and a Gate × Red Bull tumbler
2️⃣ Lucky Share Draw: 10
#BTC
Bitcoin Is Overbought: Why Would This Be Bullish For Its Price?
Unlike other financial assets, overbought levels would be positive for bitcoin, according to an analytics firm.
By Bárbara Distéfano 5 March, 2024
Despite various indicators indicating that bitcoin (BTC) was overbought and would fall in price, today it touched its all-time high of $69,000 (USD). According to market analysis provider, Bespoke Investment Group, this is because an overbought signal does not necessarily negatively affect the digital currency.
To understand this, introduce that bitcoin is currently trading 2.6 standard deviations above its 50-day simple moving average. This means it's "extremely overbought," though history has shown it's not always negative, he warns.