💥Fill the gaps in your understanding: When the market is sluggish, don’t keep staring at the order book—learn more, master industry logic and risk-control systems, and don’t go around asking about inside information. When life hits a low point, read more, train your mindset, and develop skills for a side business. In good times you rely on luck; in tough times you rely on understanding.
May your wallet be filled with pleasant surprises like airdrops, and your mood stay as bright as a Shiba Inu emoji; may every community discussion be full of kindness, and every on-chain interaction convey warmth. Amid the noise of the crypto world, keep your inner peace—and also find like-minded companions who resonate with you.🎁🎁
📍Bear market hits bottom—batch buying is the correct investment approach
On August 12, well-known trader DoctorProfit posted that a historical indicator for Bitcoin is sending a signal that a “bottom has already formed or is very close.” In 2015, 2019, and 2022, the bear-market bottom formation phase also began when the 3- to 6-month holders’ realized price crossed below the 1- to 2-year holders’ realized price. He believes this means newer buyers capitulate in losses and sell, and Bitcoin gradually shifts into the hands of longer-term holders. This crossover is now occurring for the fourth time, while the BTC price is below the average cost of both types of holders.
However, historically, this signal does not immediately lead to a reversal. Bitcoin typically still goes through several months of sideways movement to complete the base-building process, so this phase can also be viewed as a long-term accumulation period. He says the market is currently in the bear-market bottom formation and long-term accumulation stage. Doctor Profit stated that over the past few weeks, he has been buying BTC in batches within the $54,000 to $64,000 range, and will continue building his position gradually using a method of 5% per tranche each time.
Breaking news! Even an ETF giant can’t hold up? Bitwise, a major Wall Street asset manager, cuts 14%, and the cold winds of crypto winter blow toward institutions!
Just now, the crypto market brought news that made quite a few people suck in a cold breath: Bitwise, a well-known Wall Street crypto asset management firm and one of the issuers of the Bitcoin spot ETF, suddenly announced layoffs of about 14%!
For a long time, everyone thought that as long as spot ETFs went through, Wall Street’s institutions would be a “printing machine” guaranteed to profit with no loss. But reality has slapped that assumption hard. With the crypto market remaining persistently sluggish recently, even these top “water sellers” have started to tighten their belts to get by. So what signal is behind this round of layoffs? Let’s break it down in depth for you: