🚨 BTC Update: Signs of a Bottom or the Beginning of a New Crypto Winter? 🔥
On-chain data shows that short-term investors have been selling in panic. Makers have succeeded in breaking the crowd's euphoria. This pattern is similar to previous corrective bottoms in this bull cycle.
However, when combining the long-term and short-term SOPR indicators, the market picture is clearly divided into two directions:
Positive scenario: If the market is in a healthy correction, we are standing right at the bottom.
Negative scenario: If the bear cycle has started, the pain is not over yet.
Currently, a short-term recovery is very possible. However, the $80,000 mark is the key to survival. Losing this level, the risk will skyrocket. The good news is that the possibility of the price splitting by 3, 4 (-70%) from the peak like history is unlikely to repeat this time. 😎
