Indicators show BTC turning from bullish to neutral
BTC's price has fallen more than 12% since May 6, decoupling it from traditional risk assets like the Nasdaq. CoinDesk's BTI indicator, which measures bitcoin price trends, showed BTC turning from bullish to neutral on Thursday. The indicator has been signaling an uptrend since Jan. 13, with the exception of a brief red signal (downtrend) in mid-March and a neutral signal on April 24. Astronaut Capital Chief Investment Officer Matthew Dibb said low liquidity has led to a handful of sellers driving prices ever lower, and that liquidity is currently low, even for major products such as BTC. While the immediate cause of the weakness cannot be pinpointed, any mid-sized to large offers are driving the market down
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