Damn, I have this feeling that it’s time to buy $BTC . But, damn it, it’s scary. And that’s what’s messing with me.
Glassnode reports that the volume of Bitcoin spot-market trading has fallen to the lowest level since data collection began in 2019. Demand is weak, ETFs are not showing strong inflows, and BTC continues to be deposited on exchanges. It doesn’t sound very good. But seller exhaustion indicators are approaching levels that have historically been seen near bear-market lows. In other words, sellers are gradually running out.
The Fear and Greed Index is currently at 29 — fear. That means most people are afraid to buy too early. And honestly, I get it.
We’ve talked more than once that the current cycle looks like the mildest in Bitcoin’s history. If that’s really true, then maybe the market is already close to finishing the bearish phase. But there’s one problem — weak demand. Without it, even seller exhaustion doesn’t guarantee a quick reversal.
The data is looking more and more like a late stage of the bear market, but the feeling of confidence is still missing. And maybe that’s okay. Because in Bitcoin, the best buy points almost always looked like the worst idea in the world.
#UkrainianContent
Glassnode reports that the volume of Bitcoin spot-market trading has fallen to the lowest level since data collection began in 2019. Demand is weak, ETFs are not showing strong inflows, and BTC continues to be deposited on exchanges. It doesn’t sound very good. But seller exhaustion indicators are approaching levels that have historically been seen near bear-market lows. In other words, sellers are gradually running out.
The Fear and Greed Index is currently at 29 — fear. That means most people are afraid to buy too early. And honestly, I get it.
We’ve talked more than once that the current cycle looks like the mildest in Bitcoin’s history. If that’s really true, then maybe the market is already close to finishing the bearish phase. But there’s one problem — weak demand. Without it, even seller exhaustion doesn’t guarantee a quick reversal.
The data is looking more and more like a late stage of the bear market, but the feeling of confidence is still missing. And maybe that’s okay. Because in Bitcoin, the best buy points almost always looked like the worst idea in the world.
#UkrainianContent