Bitcoin Tapping $81K Could Be a Trap: Correction Has Not Yet Ended, Says CryptoQuant
Photo: Coinpedia
Bitcoin’s Cycle Extremes Index has dropped to 15.8%, showing weaker market activity. CryptoQuant data suggests Bitcoin could see another drop before a strong recovery. Bitcoin open interest remains high at $53.19 billion, showing heavy trader activity. Bitcoin’s move toward $81,000 is giving traders hope that the market may be recovering. But CryptoQuant’s Bitcoin cycle indicators show that BTC has not yet reached the conditions seen near major market bottoms. Meanwhile, derivatives data points to continued leveraged trading.
Source: Coinpedia
