🚀 Bitcoin Sell-Off Explained! Where Are Support Levels ??

Institutional Crypto Research Written by Experts

Author

Markus Thielen
March 15, 2024

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👇1-10) Bitcoin and Ethereum are experiencing a downturn today for two primary reasons.

👇2-10) Firstly, our cautious stance over a week ago indicated the fragility of specific market segments. Despite initial skepticism, our concerns regarding Bitcoin's market structure have manifested as forward-looking returns become increasingly volatile and binary after Bitcoin experienced an outside day (reaching a new high and trading below the previous day's low within the same session).

Our Analog chart from March 7

👇3-10) As a result, we closed out our trading signals model portfolio and only added two positions since then. Other parts of the market have become unpredictable, with shares of MicroStrategy trading 60-90% above fair value (regression vs. Bitcoin or based on BTC holdings).

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