Has BTC Finally Found Its Bottom?

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There is a lot of debate about whether Bitcoin has bottomed and will recover or if more pain is ahead. 

Bitcoin’s recovery from its dump below $81,000 late last week started off well but appears to have stalled over the past 24 hours. Now questions are being asked about whether it truly has bottomed or whether it will fall even further.

A Santiment analyst said on Wednesday that social media sentiment has turned notably bearish, with increased declarations of a bear market. However, historical patterns show that major turnarounds often occur when retail hope is lost – the market moves opposite to crowd expectations.

Additionally, Bitcoin’s 30-day and 365-day MVRV ratios, which measure unrealized profit and loss, remain in negative territory, indicating traders are holding losses.


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