Summary
- "The cryptocurrency market is becoming uncertain, but there are no clear signs of a downtrend or rebound signals.
- Price declines and premium increases are occurring simultaneously, and it was noted that excessive trading should be avoided.
- Warned about the possibility of "getting off midway" and stated there isn't sufficient data to evaluate the market as a bear market.
Opinions have emerged that the cryptocurrency market is becoming increasingly uncertain.
On the 11th (local time), a CryptoQuant contributor 'Avocado On-Chain' stated via X that "There are no signs indicating a full-fledged downtrend in the current cryptocurrency market," but added, "At the same time, there are no strong rebound signals either. The market is becoming increasingly uncertain."
He assessed, "As price declines repeat, the price channel (purple) continues to lower, but the Coinbase premium (yellow) is trending with higher lows," adding, "In times like these, there's no need to make excessive bets on positive news or panic sell on negative news."
Finally, he concluded, "There isn't sufficient data to evaluate the current market as a bear market," and added, "Selling at this point likely represents 'getting off midway through the journey.'"
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
