Moving forward to Monday Bitcoin (BTC) CME is moving towards deeper bottoms, not its close. If Bitcoin, which was stalled at 77 thousand dollars at the time of writing, starts to close below Strategy’s cost zone, this may create lower wicks at 73 thousand dollars and below.
Bitcoin (BTC) Hash Rate
The alleged attack on Iran did not happen and there is no activity in the region for now. trump He just said, “I hope we can reach an agreement” about Iran. US sources say that an attack could start at any time, but it is not planned in the short term.
The On-Chain Mind account, which examines network data, explains how abnormal the current period is by looking at hash rate figures and past movements.
“of Bitcoin We saw a 16% drop in hash rate, the largest drop since the Chinese mining ban in 2021.
Movements of this magnitude do not occur in healthy, comfortable environments. These reflect real stress on miners, forced adjustments, and periods where the network loses inefficient hashing power before regaining stability.
“Also, historically, there have been buying opportunities during large declines.”
Benjamin Cowen says that cryptocurrency investors who believe in the rise can always find stories to deceive themselves, but this is not the case.
“One of the biggest mistakes many investors make when investing with the expectation that interest in cryptocurrencies will increase is that they never clearly express a different view. When their view does not come true in the time frame they set, they change the timeline and give different reasons why it will happen.
Last year this was because M2 and BTC had to follow M2 (even though BTC always peaked before M2). This year many people are using ISM the same way they used M2 last year. Whatever your position, you can always find a narrative that will try to support it.
It is important to understand that this is just a pursuit of narrative. Story follows price, not the other way around. You can develop a story using price trends, but you cannot develop a price trend using a story. Unfortunately, because mania predictions are often never questioned, many people end up with unnecessary investments because they are too busy chasing the next promising story. My advice is to stop focusing on narratives and instead focus on real price trends in the market. “When you do this, you will probably conclude that the news does not matter and the narrative follows the price.”
Top 100 Altcoins RSI
Top 100 by market cap altcoin Sharing the RSI status, the analyst with the pseudonym DaanCrypto said that the downward trend continues. The RSI patterns in the weekly period below clearly remind us that interest is weak, but despite this, most altcoins have not yet entered the oversold zone.
This situation is still negative for altcoins in general, as it shows that many altcoins may experience larger losses. ASTER Except for many altcoins, most of the cryptocurrencies are just in the fear zone.
