A lot of people are already calling for a cycle bottom.
And they will be trapped again. A relief rally towards $78K-$80K is possible, but there'll be another violent dump. Bitcoin MVRV has still not dropped below 1, which means the capitulation hasn't happened. IMO, Bitcoin could drop another 30%-35% from the current level before a macro bottom.
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A lot of people are already calling for a cycle bottom.
And they will be trapped again.
A relief rally towards $78K-$80K is possible, but there'll be another violent dump.
Bitcoin MVRV has still not dropped below 1, which means the capitulation hasn't happened.
IMO, Bitcoin could drop another 30%-35% from the current level before a macro bottom.