Bitcoin’s dramatic plunge to $80,600 on Friday extended what analysts are calling the fastest and sharpest bear market drawdown in BTC’s history, but back-tested macro indicators now suggest the current sell-off may be setting up a major bullish inflection point heading into year-end. BitcoinBTC: ~$84,000 (▼23% monthly, ▼10% weekly)The drop below $84,000 pushed BTC to test its 100-week EMA for the first time since October 2023 — the moment the current bull cycle began. According to the Kobeissi Letter, this sell-off marks the “fastest bear market ever” based on speed, depth, and cross-market liquidity stress. Futures liquidations surpassed $1 billion, while Bitcoin has now fallen 36% from its all-time high of $126,210 set just weeks ago
source: https://www.binance.com/en/square/post/32724172211770?utm_source=BinanceNewsRSS