Cover created with Canva
The BTC bear market has reached its final stage with signs of deep capitulation, however no bottom signals have yet been formed. This is the conclusion made by Glassnode analysts.
The current situation has much in common with the fall in quotations in 2018-2019. Then the trend lasted 15 months with a drawdown of almost 85%. Before the final capitulation, the market tried for a long time to keep support at $6,000. After a failure within one month lost 50% of the cost.
In 2022, this level of attraction was the $30,000 mark. After its breakdown, losses reached 40% two weeks later. ATH rollback was 72.3%.
Liquidation card. The main margin liquidity is in the range of $13,000 - $17,000. That is, a place where a large number of volumes are concentrated, both buy limits and stops of participants, takes or liquidations.
Today at 15:30 US inflation statistics will be released. The market expects the inflation index to rise from 8.6% to 8.8%. Remember that the higher inflation, the higher the rate hike from the Fed.
Thanks for reading!!, I invite you to follow me, I make weekly publications regarding the crypto world and the stock market. !!!!
