Executive Summary: Is The Bottom In? Q1 2023 Crypto Market Update
In this article, I analyze on-chain, trading, and sentiment data to determine if the bottom is in for crypto markets after the recent recovery. I look at indicators like MVRV ratio, volume, leverage, and influencer opinions to assess if more downside is expected or if the bottom has been reached.
Summary: The article analyzes on-chain, trading, and sentiment data to determine if the bottom is in for crypto markets after the recent recovery, or if more downside is still expected.
On-chain data:
- MVRV ratio approaching 1 indicates sellers are exhausted.
- Long-term holder capitulation has peaked.
- 4 out of 10 recovery indicators confirmed, uptrend still weak.
Trading and financial data:
- Spot volume high, leverage low indicating less speculation.
- Stablecoins still leaving crypto, cautious sentiment.
- Low financial stress across markets.
Sentiment on Crypto Twitter:
- Influencers leaning bullish, think upside more likely.
- One notable exception remains firmly bearish.
- Indicators show bottom likely in but macro uncertainty persists.
Full article:
Is The Bottom In? Q1 2023 Crypto Market Update | CoinMarketCap
The question on everyone’s mind: is the bottom in, or are we merely in a bear market rally?
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