There was a severe sell-off in the market last week and BTC prices fell below $25,000. This ended a period of historically low volatility. 📉 The market broke important price support patterns, leaving the bulls in a difficult situation. The key factor appears to be that $2.5 billion worth of open interest in the derivatives market was cleared within a few hours.

Options markets have sharply repriced volatility premiums from historical lows, but open interest has remained remarkably stable. Spot markets are still relatively 'cap-weighted', with 88.3% of Short-Term Holder supply currently held at unrealized losses.

We introduce a new empirical indicator, which helps identify turning points in market profitability and trend. 📊 Join the discussion by sharing your thoughts and analysis about the market in the comments section!#cryptocurrency#blockchain