Bitcoin has stalled in the recent downturn, after Saylor DCA $BTC and has now significantly corrected to 86k. Last night, over 500m was liquidated from the market.
From a macro perspective, Bitcoin still tends to closely follow this index. I believe that the current phase shift and poor performance mainly stem from the remaining selling pressure of the 4-year cycle, combined with loss-taking activities to optimize taxes towards the end of the year.
In my opinion, the first quarter of next year will be a crucial time to $BTC prove whether it can break the mold of the traditional 4-year cycle or not.
In the meantime, the market may still have to go through a difficult phase, as liquidity and trading volume are expected to remain low, especially with Christmas and New Year's approaching. This period is an accumulation phase when people are quite frustrated due to low volume.
Follow me for the latest updates from the market, okay?
