๐จ Update: The number of loss sellers in Bitcoin has increased by 29% since June 10... but conviction buyers are also increasing!
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๐ What is happening in the market:
โ The number of people who have sold Bitcoin at a loss has risen by 29% since June 10
โ This reflects a wave of selling pressure due to the recent drop in prices
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๐ช But on the other hand:
โ The number of conviction buyers has also increased
โ This indicates that market confidence has not completely collapsed
โ Some see this decline as a smart buying opportunity, not the end of the cycle
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๐ Reading between the lines:
โ We are facing a state of divergence in overall sentiment
โ Short-term selling pressure, but with continued faith in the upward trend in the medium and long term
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๐ What are we watching now?
โ Will conviction buyers succeed in absorbing the wave of selling?
โ Are we witnessing a strong bottom that turns into a new starting point?
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โDo you think the market is gearing up for a near reversal? Or has the correction phase not ended yet?
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