Bitcoin’s abrupt drop to $80,000 shocked traders, but back-tested data on 105 indicators suggests the market washout is preparing BTC for a longer-term rally to new highs.
Bitcoin has yet to find a bottom, but the data suggests buyers were very interested in the abrupt dip to $80,000. Several altcoins are also approaching deep discount levels.
Ex-Coinbase lawyer announces run for New York Attorney General, citing crypto policy
Khurram Dara had been hinting for months that he might try to unseat state Attorney General Letitia James, claiming that she had engaged in “lawfare” against the crypto industry.
Bitcoin ASIC producer Bitmain under US investigation over national security risks: Report
US authorities are investigating Chinese Bitcoin mining hardware giant Bitmain over potential national security risks tied to alleged remote capabilities, according to Bloomberg.
Bitcoin drops as yen falls, Canada approves stablecoin rules: Global Express
Japan’s stimulus package has shaken global markets, including Bitcoin, while the UK cracks down on Russian money laundering and sanctions evasion with crypto.
Bitcoin realized losses rise to FTX crash levels: Where is the bottom?
With short-term holders driving Bitcoin’s sell-off, realized losses are hitting historic levels, leaving investors to wonder where the bottom might be.