Bitcoin, Ethereum & Crypto Analysts Search for Bottom as Investors in 'Historically Meaningful Degree' of Pain
Bitcoin, Ethereum & Crypto Analysts Search for Bottom as Investors in 'Historically Meaningful Degree' of PainAs Bitcoin (BTC) and the broader crypto market are trying to recover after diving below crucial levels this past weekend, analysts are digging into data, trying to identify the next steps in the market. "The selloff over the weekend can be considered to have plunged profitability and investors into a historically meaningful degree of financial pain," crypto analytics firm Glassnode said in their report today.
According to them, with forced sellers appearing to drive much of the recent sell-side, the market might begin to eye whether signals of seller exhaustion are emerging over the coming weeks and months."Given the tighter correlation between traditional markets like the NYSE, the Nasdaq, and the crypto markets, I don't think the [BTC] bottom is in.
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