Yes, we had a major deleveraging event and it affected the #Bitcoin price. But would you rather hold dollars or euros in the long term? EUR Low: 930 sats → Now: 1049 sats USD Low: 793 sats → Now: 899 sats In euros, the recent low was the first one since Jan 20th of this year, and we’re again fighting the 1,000 sats per EUR level. In dollars, we already had several lows, and are approaching 500 sats per USD even faster. If you're worried about current price action (orange area), you might want to zoom out. This chart is only 2 years of data.
Read the latest Bitcoin Strategy newsletter for the full breakdown of Gold, S&P 500 and Bitcoin, what it means for risk assets this cycle, and what we learn when we zoom out further 👇 https://www.bitcoinstrategyplatform.com/news/safe-haven-vs-risk-asset
Bitcoin crashing further: price action, market structure, and whether gold is telling us where Bitcoin is heading next. Read today’s Bitcoin Strategy newsletter 👇 https://www.bitcoinstrategyplatform.com/news/market-analysis-is-gold-telling-where
Read today’s Bitcoin Strategy newsletter for key charts and insights on the current state of the bull market 👇 https://www.bitcoinstrategyplatform.com/news/state-of-the-bull-market
We had some longs liquidated though.
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#Bitcoin on-chain & cycle analysis. Signal only. Follow the carrot down the rabbit hole.
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