CryptoQuant Comments on the Fall in Bitcoin (BTC)! Shakeout or Crash?

While the selling pressure has increased in recent days, Bitcoin (BTC) seems to be holding above $86,000 after dropping to $82,000 levels.

While the situation in altcoins remains serious, major altcoins such as Ethereum (ETH), XRP, BNB, Cardano (ADA) and Dogecoin (DOGE) experienced significant declines.

In response to these declines, Litecoin (LTC) and Aptos (APT) rose by up to 10% amid the ETF news.

While analysts generally point to macroeconomic uncertainty and geopolitical tensions as the main factors behind the decline in Bitcoin, new analysis has come from CryptoQuant CEO and analyst.

CryptoQuant CEO Ki Young Ju said that investors are making panic sales in the face of consecutive declines and that it is too early to panic.

Pointing out that 30% corrections are typical and quite normal in Bitcoin bull market cycles, Ju said that panic sales during such declines show the inexperience of investors.

Referring to the major correction in Bitcoin in 2021 and the subsequent ATH in his post, the famous CEO said:

“If you are panic selling right now, you are probably a rookie.

A 30% correction is normal in Bitcoin bull cycles. It fell 53% in 2021 but then reached ATH.

Ju said the worst strategy to implement is to “buy when prices are high and sell when prices are low,” advising investors to invest with a clear plan.

CryptoQuant analyst said that the BTC fear and greed index has fallen to its lowest levels in recent years, signaling a potential reversal.

CryptoQuant analyst Axel noted that the fear and greed index dropped to the extreme fear level of 10.

The analyst also said that the short-term investor MVRV ratio has fallen below 1, which is a sign of a potential reversal.

*This is not investment advice.