Have we finally hit the bottom? After Bitcoin touches $44K for the second time, some traders are feeling cautiously optimistic.
Bitcoin stayed broadly higher overnight following the previous day’s United States inflation data, but for some, now was not the time to become overly confident.
“BTC starting to feel a little toppy , although asks are diffused through some key resistance levels,” Twitter account Material Indicators“Some bitcoin bulls may show up to clear a few levels, but the whole herd is going to have to show up to clear them all.” Suggesting a good opportunity to “de-risk,” Material Indicators highlighted order book flux, which, on Wednesday, had formed the focus of a graver warning about a possible incoming crash.upside and punish latecomer short tradersObserving perp funding going increasingly negative as price grinds higher, it appears that the real liquidation wave may be on the upside
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