Is the #BTC bottom near?
Maybe
Maybe not
What I’m certain about is that I cannot afford to be away from the market as it inches closer and closer towards its generational bottom
The opportunity cost for not paying attention to this $BTC retrace is too high
#Crypto#Bitcoin
About $1.1B of Positions Gets Liquidated Due to #BTC Drop Below $30,000
- $315M on #OKX
- $268M on #Binance
- $178M on #FTX
- $144M on #Bitfinex
- $106M on #Bybit
A #bitcoin dip down to it's realized price (average on-chain cost basis) is entirely possible and has been consistent with previous market bottoms in bear market cycles.
Realized price is $24.3k at the moment.
#Bitcoin small holders (1-10 BTC wallets) have been stacking since the 2021 summer crash.
What is interesting, they are still stacking now, completely unaffected by the current dip.
Nice divergence.
Meanwhile, another all-time high today on the supply-side of the equation. #Bitcoin#Crypto
This divergence between price & illiquid supply since the Nov 2021 "peak" is looking very overheated 🔥
Accumulation period statistically leads to a potential upside with good risk/return 🔥
The rate of change (ROC) in the SOPR of long-term Holders indicates the moments of accumulation and distribution of these entities.
#bitcoin
📌Bitcoin Held By Fund
👉During the recent retracement, #bitcoin held by funds has decreased by 10,000 #BTC, unprecedented since April 2021. This can not always be considered a #bearish signal, but their behaviour should be monitored because they hold about 851,000 BTC.