The cryptography market experienced a severe slowdown on Tuesday and, according to numerous chain metrics, marked a background of the Bitcoin price (BTC).
The total market capitalization of the crypto oscillated just over 2.7 billions of dollars, which has been erasing almost 1 dollars since its peak in December 2024, according to tradingView data. Several indicators suggest that Tuesday’s sale may have marked a local background.
Andre Dragosch, head of research at Bitwise Europe, stressed that the index of assets Crypto has reached its lowest level since August, coinciding with the progress of the Transport of the Yen, which saw Bitcoin do a background About $ 49,000.
“”The feeling of asset as an asset crypto has simply flashed a counter-current purchase signal for Bitcoin. The widespread distribution between flows, chain data and derivatives suggest that lower risks are quite limited. At these awards, the prospects for the risk reward seem quite favorable, “noted Dragosch.
Tuesday, investors lost $ 1.8 billion – the largest loss made in one day since August – when Yen’s transport trade has resulted in $ 3.2 billion in losses made, according to Glassnode data.
In addition, short -term holders, defined by Glassnode as investors who have owned Bitcoin for less than 155 days, sent 43,600 BTC ($ 3.9 billion) to the loss – the highest level since August 2024 .
These measures are crucial to identify potential market stockings, suggesting that Bitcoin can approach a key turning point.
