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But we saved everything 🙂.
Joao Wedson highlights that Bitcoin has yet to experience an extreme capitulation scenario similar to previous cycles, which is usually marked by significant miner losses and a notable increase in recently moved supply.
He adds that while a recovery attempt is possible, these acute conditions have not yet materialized in the current market phase.
Wedson previously identified $57,300 as a crucial Bitcoin liquidation level based on data from 30 exchanges, cautioning traders about price volatility in recent weeks (article). He has also tracked extended bearish trends on other networks, noting that Ethereum’s current downturn is now the second longest in its history (article). These observations add context to his latest warning on Bitcoin’s current market structure.