BTC dropped 16%—is this a pullback or the end?
On May 28, BTC hit a peak of $74,533, and today it's sitting at $62,399, marking a pullback of 16%.
The Fear and Greed Index is at 22, indicating extreme fear.
A few key signals:
📉 In the past 22 trading days, the spot ETF has seen net outflows for 19 days, totaling around $5 billion.
🐋 Institutional divergence—Marathon bought 1,000 BTC against the trend last week, but more whales are on the sidelines.
🔑 $60,000 is the crucial support level for this round; don't jump to conclusions about the bull market ending until it breaks.
My take: This is a normal "shakeout" pullback in the middle of the bull market, not a trend reversal. However, before the ETF funds start flowing positively, view any rebounds as retracements and avoid chasing.
👉 Where do you think BTC can drop to? Drop your number in the comments.
On May 28, BTC hit a peak of $74,533, and today it's sitting at $62,399, marking a pullback of 16%.
The Fear and Greed Index is at 22, indicating extreme fear.
A few key signals:
📉 In the past 22 trading days, the spot ETF has seen net outflows for 19 days, totaling around $5 billion.
🐋 Institutional divergence—Marathon bought 1,000 BTC against the trend last week, but more whales are on the sidelines.
🔑 $60,000 is the crucial support level for this round; don't jump to conclusions about the bull market ending until it breaks.
My take: This is a normal "shakeout" pullback in the middle of the bull market, not a trend reversal. However, before the ETF funds start flowing positively, view any rebounds as retracements and avoid chasing.
👉 Where do you think BTC can drop to? Drop your number in the comments.