👻 Bitcoin Shows No Signs of Recovery
Attention: The futures market is dominated by sell-offs and the closing of short positions, with traders reducing their Bitcoin holdings since early June.
The market value to realized value (MVRV) ratio of BTC has fallen below the 365-day moving average, indicating a possible further correction in the asset's price.
🌧 The recovery in demand from Bitcoin traders is weak, impacting the short-term growth prospects of the asset.
Attention: The futures market is dominated by sell-offs and the closing of short positions, with traders reducing their Bitcoin holdings since early June.
The market value to realized value (MVRV) ratio of BTC has fallen below the 365-day moving average, indicating a possible further correction in the asset's price.
Due to the decline in the leading cryptocurrency's price, traders' margin has decreased by 18%, reaching its lowest level since late November 2022, following the bankruptcy of the FTX crypto exchange.
🌧 The recovery in demand from Bitcoin traders is weak, impacting the short-term growth prospects of the asset.