🎯More and more data is coming in that we may have reached the bottom. Short positions of hedge funds are considered the key reason for the current correction. According to Matrixport, against the backdrop of declining funding rates and falling open interest in CME futures, pressure on the market is easing.
🎲At the same time, the structure of the BTC market has changed significantly: the main holders of BTC have become wallets with a balance of 100 to 1000 BTC (about 8-80 million $). This indicates the arrival of large institutional players and reduces the likelihood of extreme downturns characteristic of previous cycles.
🦾Currently, experts believe that the key level is $88,574. If $BTC BTC consolidates above this mark, it will signal the return of a bullish trend. However, only a confident breakout above the $90,000 level will confirm the beginning of a new global upward movement, according to Matrixport.
💰It is also worth noting that trading of spot Bitcoin ETFs last week ended with a net inflow of 744.35 million $, which instills optimism.
