The cryptographic market experienced a severe recession on Tuesday, and according to many metrics in the chain they marked a fund in the price of Bitcoin (BTC).
The total capitalization of the cryptographic market was just above $ 2.7 billion, marking an elimination of almost $ 1 billion since its peak in December 2024, according to TrainingView data. Several indicators suggest that Tuesday’s sale may have marked a local fund.
Andre Dragosch, head of research at Bitwise Europe, stressed that the index of cryptographic asset feelings reached its lowest level since August, coinciding with Yen trade unwilling, which saw Bitcoin win a fund in around $ 49,000.
“The index of feeling cryptographic assets simply showed a massive purchase signal for Bitcoin. The generalized orientation through flows, data in the chain and derivatives suggests that the downward risks are quite limited. At these prices, the risk reward perspective seems quite favorable, “Dragosch said.
On Tuesday, investors lost $ 1.8 billion, the loss made of a single larger day since August, when the relaxed marketing resulted in $ 3.2 billion in losses made, according to Glassnode data.
In addition, the short -term holders, defined by Glassnode as investors who have had Bitcoin for less than 155 days, sent 43,600 BTC ($ 3.9 billion) to exchanges with a loss, the highest level since August 2024.
These metrics are crucial to identify the potential funds of the market, which suggests that Bitcoin can be close to a key turning point.
