Bitcoin Finds Support Despite Aggressive Spot Selling; Bull Case Grows

Bitcoin Finds Support Despite Aggressive Spot Selling; Bull Case Grows


Bitcoin has faced some massive selling pressure throughout the past few days and weeks, with buyers losing their edge over the market as sellers target further downside This weakness caused the crypto to dip all the way down towards $30,000 this morning before it was able to find some serious support There’s a strong possibility that it begins bottoming out at some point in the near-term, as this selling has grown far over-heated One trader is noting that the fact that BTC is finding support despite the intense nature of the spot market’s selling is a bullish sign It suggests that the crypto asset is being bid up elsewhere, with derivatives and potentially TWAP buying across exchanges from larger players

Bitcoin and the entire cryptocurrency market are seeing one of the first massive pullbacks throughout the course of this uptrend.

This type of selloff was always inevitable, as BTC typically faces multiple 20%+ corrections throughout the course

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