#CryptoInsights

For the first time since October 10, we’ve had a day where hourly averages showed losses instead of profits.

• Like I’ve said before, in a bull market, this is usually enough for a solid correction. Prices could drop lower, but only if there’s a quick bounce—otherwise, the entire bullish structure could fall apart.

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In the January 2024 correction (-21% peak to peak), there were only two days like this, but realized profits back then were much lower than in the past two months. Later, three major dips in March-April 2024 (the start of a long sideways trend) saw strong rebounds as soon as losses dipped into negative territory. It wasn’t until early May that everything changed—prices broke below a critical level, flipping the bullish trend into months of unpredictable swings

#onchain