Bearish market continues?

[Oshosondy]

https://twitter.com/glassnodealerts/status/1523486793403838464?s=20&t=8PlfpoVcogJ02Ln_wchrbQ

 #Bitcoin $BTC Exchange Inflow Volume (7d MA) just reached a 3-month high of 1,755.021 BTC

Previous 3-month high of 1,729.605 BTC was observed on 08 May 2022

View metric:
https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


The price of bitcoin has started to fall since on the 07th, yesterday was just the continuation of a massive fall. Bitcoin whales are reducing and the exchanges inflow has been on the high since 3 months ago.  Inflow means that whales and other people that have bitcoin on wallet are moving it to exchanges. Whales prefer cold wallets, they do not leave coins on exchanges, they are mostly doing it to sell and bitcoin price fall.

https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


This means whales are selling which result to panic selling. But can this indicate that more bitcoin would still be sold in a way the dip would be below $30000? Bitcoin is around $32800 presently but the market is still bearish.

[Slow death]

about this whale issue is still something that is not absolutely certain, maybe they are moving their coins to sell as you say, or maybe they are moving their coins to temporarily store and sell little by little or maybe, but on this issue of the price falling or not below $30,000, we need to see to what extent the support that is at $32000 will resist, if it breaks easy and keeps falling then when it reaches $30,000 it will drop below $30,000, but at $28000 - $29000 there is another very strong support and at this level we have to be more attentive because if price just touch this level and immediately go up to $30,000 - $32,000 then we will know that it will not be easy to fall below $30,000

[Ararbermas]

Perhaps it will continue based of the structure in the market and in my view it is because of the situation as well that seems common reason of panic selling as its very obvious that it's constantly a downtrend.
And for me surely this will become more worst since there's no sign of uptrend till this day.

[bittraffic]

Perhaps it will continue based of the structure in the market and in my view it is because of the situation as well that seems common reason of panic selling as its very obvious that it's constantly a downtrend.
And for me surely this will become more worst since there's no sign of uptrend till this day.

With the world economy today and the Bitcoin bear market, its sure to plunge deeper. If its going to dip below $20k, this really will discourage the new investors who come into crypto since 2021. They have not experienced this tragic event that somehow some speculators are already expecting to happen.

There is a support that once the price hit at $29k, I think will bounce. Just a something that I would hope. Maybe it will bounce again after it.

[Beparanf]

This kind of strong bearish movement is always happening when the price is near the strong support zone. We might experience a quit dip but this signifies also as potential reversal since whales that will sell on this price area is just doing a cut-loss or minor TP so there's no way this will continue on much lower price as many expected since there will be new investors that will enter to to take the weak hands place.

[DU18]

https://twitter.com/glassnodealerts/status/1523486793403838464?s=20&t=8PlfpoVcogJ02Ln_wchrbQ

 #Bitcoin $BTC Exchange Inflow Volume (7d MA) just reached a 3-month high of 1,755.021 BTC

Previous 3-month high of 1,729.605 BTC was observed on 08 May 2022

View metric:
https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


The price of bitcoin has started to fall since on the 07th, yesterday was just the continuation of a massive fall. Bitcoin whales are reducing and the exchanges inflow has been on the high since 3 months ago.  Inflow means that whales and other people that have bitcoin on wallet are moving it to exchanges. Whales prefer cold wallets, they do not leave coins on exchanges, they are mostly doing it to sell and bitcoin price fall.

https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


This means whales are selling which result to panic selling. But can this indicate that more bitcoin would still be sold in a way the dip would be below $30000? Bitcoin is around $32800 presently but the market is still bearish.

There is nothing we can do now other than hope the market will improve again, in the last week bitcoin price has fallen more than 13.16% and if bitcoin is able to break through the $30k-$29k support area maybe we will look further decline, in the last 2 months bitcoin only played at $40 to $45k, but after the FED announced their decision a few days ago, the bitcoin price has decreased significantly and if we look at the current conditions, it is very likely that bitcoin will again reach the price level lowest in the last year.

[OgNasty]

It certainly feels like the sky is falling. We’re cleaning all the leverage out of the system. This can be a long and drawn out process. With the world’s most famous leveraged  Bitcoin holder having a cost basis of $30,700 and a liquidation level of $21K, I think we may see this dip go just a bit further. Michael Saylor has been a little bit irresponsible with his leveraged buying and I have a feeling that the Bitcoin market may just teach him a lesson before this drop is finished. That would seemingly be the most fair ending to this cycle. With mtgox coins on the way, I wouldn’t discount Bitcoin showing the billionaires it has it’s limits to what manipulation it will allow.

[dunfida]

This kind of strong bearish movement is always happening when the price is near the strong support zone. We might experience a quit dip but this signifies also as potential reversal since whales that will sell on this price area is just doing a cut-loss or minor TP so there's no way this will continue on much lower price as many expected since there will be new investors that will enter to to take the weak hands place.

Expect the unexpected since it always been like this or not really that something new in speaking with sudden decline or dips without even knowing on what is the precise reason on why its really happening.

It would be particular pointed out on Whales selling, fuds, news or events, taking profit kind of reasoning which we couldnt really able to tell on whats happening behind the curtains.

Instead of freaking out then its better to secure your buyback point on where price could possibly bottom out.

[justdimin]

Expect the unexpected since it always been like this or not really that something new in speaking with sudden decline or dips without even knowing on what is the precise reason on why its really happening.

It would be particular pointed out on Whales selling, fuds, news or events, taking profit kind of reasoning which we couldnt really able to tell on whats happening behind the curtains.

Instead of freaking out then its better to secure your buyback point on where price could possibly bottom out.

Reason for what happened this time around wasn't really a hidden thing though. I mean FED said that they will increase the rates, which caused many rich people and companies to withdraw their money from the markets and buisness' and then put it on interest because it was giving such a good rate for guaranteed amount as well.

This is why there isn't enough money in the markets all around the world, not just crypto though, it is literally all around the world and dollar is more valuable in many places. We had the past 3-4 years (and technically last 14 years) that see USA printing so much money and dishing it out, it's just getting a callback these days that's all.

[GreatArkansas]

For me, this is just temporary. For sure there are a lot of them that are trapped especially those people who were able to buy above $40,000.
Overall, at the current price level of Bitcoin now, there are already a lot of buy orders lining after these even if the price won't still bounce, the inflow will decrease, and outflow for sure will increase as people will tend to hold their Bitcoin off the exchanges.

[uneng]

Bitcoin is crashing now due to investors panic selling. The structure of confidence and trust we were living since the last bull run started has just collapsed. Known resistance and support levels don't exist anymore. First we need to see how deep the bottom is, and then it will be possible to start rebuilding everything from wreckage.

The possibilities on medium term aren't good for bitcoin. I think the market will only have grasp to recover and enter a solid positive season when the US ponzi scheme based on inflated interest rates starts melting, what inevitably will happen at some point, like it has already happened in every countries which adopted such economical measures.

[fortuner]

For me, this is just temporary. For sure there are a lot of them that are trapped especially those people who were able to buy above $40,000.
Overall, at the current price level of Bitcoin now, there are already a lot of buy orders lining after these even if the price won't still bounce, the inflow will decrease, and outflow for sure will increase as people will tend to hold their Bitcoin off the exchanges.

panicked because until now the price of bitcoin has continued to decline so that all investors are selling their assets more in order to prevent too many losses, even though they basically lose a lot if they sell when the market situation drops drastically at this time.  but for those who have just bought of course they will maintain it until the bitcoin price reverses direction again.

[electronicash]

half this year will also be the time for bulls and if not, we really still need halving for the market to start a bull run again. so much panic and we hit to lowest so if it's still going to plunge below $30K, send all you got including the coins in your cold wallet because we're going back to 2018 dive which prices could be less than $20K, worse 10k.

[P2PECS]

Bitcoin is crashing now due to investors panic selling. The structure of confidence and trust we were living since the last bull run started has just collapsed. Known resistance and support levels don't exist anymore.

I believe they do exist. The clearest one would be USD 20,000. It is not going to be easy to pierce that level downwards no matter how bad things get. At 30,000 we seem to have another one, as yesterday's panic selling seems to have stopped for the time being.

[Oshosondy]

about this whale issue is still something that is not absolutely certain, maybe they are moving their coins to sell as you say, or maybe they are moving their coins to temporarily store and sell little by little or maybe, but on this issue of the price falling or not below $30,000, we need to see to what extent the support that is at $32000 will resist, if it breaks easy and keeps falling then when it reaches $30,000 it will drop below $30,000, but at $28000 - $29000 there is another very strong support and at this level we have to be more attentive because if price just touch this level and immediately go up to $30,000 - $32,000 then we will know that it will not be easy to fall below $30,000

Bitcoin dropped to $30000 many hours ago, but now at $31000, this has been the price like four or more times now, bitcoin falled from $40000 to around $30000, from $64000 to around $30000, from ATH to around $30000, from last bull market to around $30000 again. Let me assume the bull market should start again until it will again be followed by the bear market.

Perhaps it will continue based of the structure in the market and in my view it is because of the situation as well that seems common reason of panic selling as its very obvious that it's constantly a downtrend.
And for me surely this will become more worst since there's no sign of uptrend till this day.

With the world economy today and the Bitcoin bear market, its sure to plunge deeper. If its going to dip below $20k, this really will discourage the new investors who come into crypto since 2021. They have not experienced this tragic event that somehow some speculators are already expecting to happen.

Do you think bitcoin price can plunged below $20000? That was the last ATH before 2020 halving. I am doubtful this can be possible because bitcoin never falls below previous ATH after halving.

I believe they do exist. The clearest one would be USD 20,000. It is not going to be easy to pierce that level downwards no matter how bad things get. At 30,000 we seem to have another one, as yesterday's panic selling seems to have stopped for the time being.

Yes, panic selling stopped yesterday and short term investors are likely the ones that panicked and sold their coins.

[peter0425]

https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


This means whales are selling which result to panic selling. But can this indicate that more bitcoin would still be sold in a way the dip would be below $30000? Bitcoin is around $32800 presently but the market is still bearish.

Admit it or not but we are expecting this even in the beginning of the year but mostly deny that fact and now they are the one who lose too much because of greediness .

Now that we are heading below 30k , I think this has both effect , Some are panicking to sell and others are waiting to Buy.

lets see how much  this can lose this quarter and maybe dipping till the next quarter as we are expecting the increase happening in last quarter of the year.

[Findingnemo]

It seems the bearish trend is still not over yet, probably we can expect further if there is nothing positive for the cryptocurrency market because the economic situation arround the world is also not that good and I spend more time on watching the prediction about the stock market for the last few days and one of my advisor said that we are going to be in deep trouble for the next three months so hold or sell now or wait until the recovery period.

[bittraffic]

Perhaps it will continue based of the structure in the market and in my view it is because of the situation as well that seems common reason of panic selling as its very obvious that it's constantly a downtrend.
And for me surely this will become more worst since there's no sign of uptrend till this day.

With the world economy today and the Bitcoin bear market, its sure to plunge deeper. If its going to dip below $20k, this really will discourage the new investors who come into crypto since 2021. They have not experienced this tragic event that somehow some speculators are already expecting to happen.

Do you think bitcoin price can plunged below $20000? That was the last ATH before 2020 halving. I am doubtful this can be possible because bitcoin never falls below previous ATH after halving.

Its possible to happen when the support level in $29k is broken, it will dive first to $25k down to 20k after it. So far its there are just more buying preventing that dive. Zooming out to the monthly chart, BTC is actually in the bubble stage. It hasn't pop but maybe because the limited supply of it defeats this bubble to pop. Same pattern in 2018 bear market, it hasn't pop at all, but just waited for the halving and it goes mooning again to a new ATH.

[onecall123]

It seems the bearish trend is still not over yet, probably we can expect further if there is nothing positive for the cryptocurrency market because the economic situation arround the world is also not that good and I spend more time on watching the prediction about the stock market for the last few days and one of my advisor said that we are going to be in deep trouble for the next three months so hold or sell now or wait until the recovery period.

While you're right, there hasn't been any improvement. A fear-driven sales process could result in extreme selling. Bitcoin isn't something anyone wants to use as a currency, they want to make money out of it. I am long term bearish because bear money is the best. However, what about going for quality? If it doesn't pump, it will eventually become the standard. At these lows, i'm expecting some kind of consolidation and range should occur, and hopefully the year will end in an uptrend.

[bitterguy28]

It seems the bearish trend is still not over yet, probably we can expect further if there is nothing positive for the cryptocurrency market because the economic situation arround the world is also not that good and I spend more time on watching the prediction about the stock market for the last few days and one of my advisor said that we are going to be in deep trouble for the next three months so hold or sell now or wait until the recovery period.

and we will be seeing more of this in the coming days/weeks/months as this is just the beginning of the Bearishness of market from the 2021 Hyping.
because the market shows this thread since then that after Halving effect and pump there will be coming dump and this is what we are waiting back in the first quarter.
and now that second quarter is on and the war from ukraine is still surging then yes we will be seeing more of this from now and to the following months.