Fear is very high in the market right now, with Bitcoin trading near $60K after the latest inflation data came in hotter than expected.
Many traders are worried that interest rates could stay high for longer, which is putting pressure on risk assets like crypto.
At the same time, Bitcoin is already down more than 50% from its peak, and sentiment is extremely negative.
This market often look their weakest when fear is highest, but fear alone is not enough to confirm a bottom.
It will be interesting to see how $BTC reacts in the coming weeks.
Many traders are worried that interest rates could stay high for longer, which is putting pressure on risk assets like crypto.
At the same time, Bitcoin is already down more than 50% from its peak, and sentiment is extremely negative.
This market often look their weakest when fear is highest, but fear alone is not enough to confirm a bottom.
It will be interesting to see how $BTC reacts in the coming weeks.