I believe we will break the $17,800 low of last month. The liquidity suck is real and we need at least one more dip to a new bottom.
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I believe we will break the $17,800 low of last month. The liquidity suck is real and we need at least one more dip to a new bottom.
Given the state of the economy this sounds correct.
However, given the state of Bitcoin it doesn't make a ton of sense.
All the biggest longs have already been liquidated.
Over a dozen exchanges insolvent.
Multiple stable coins crashed to zero.
These things already happened.
It's very likely we won't/can't make a new bottom.
We shall see, I believe not all the damage is oit on open yet. When rates are higher and stock market and economy crash I believe more damage will be shown in our space. Mainly De-Fi I believe will have problems but I assume we’ll see everything lower.for a time anyway. Bit eventually the good stuff finds a bottom even in a total economic breakdown