Crypto Express
06/09 01:54
Market detox in action:
Weak hands out, strong support in
As AMBCrypto pointed out, the recent political fallout sparked a serious shakeout, with nearly $1 billion in crypto liquidated in a flash.
Bitcoin took a hit too, dropping around 10% and bottoming out at $100,421. For many, that looked like a golden entry at a steep discount
True to form, BTC bounced back quickly, climbing 5.2% in under three days, reclaiming nearly half of what it lost. Sure, this rebound is minor, and It’s still too early to call a definitive “market bottom.”
But according to fresh data from CryptoQuant, early signs of a turnaround are starting to show. Beginning with Bitcoin’s Realized Cap, which has just hit a new all-time high of $935.10 billion.
A high Realized Cap means a lot of Bitcoin has been moving around at higher prices recently. It’s a sign that people are still confident and stacking their coins instead of freaking out and selling off.
This shift in market psychology is key. It shows traders are eyeing BTC’s current price as a sweet spot to load up. Basically, it reinforces a potential bottom that could pay off big down the road.
To back this up, AMBCrypto dove into other on-chain metrics that support the idea of an impending market turnaround.
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