Analyst: Multiple indicators on the chain show that Bitcoin has bottomed out after a significant drop

2025-02-26 18:40:12

Collection

ChainCatcher news, according to CoinDesk, the crypto market experienced a significant drop on Tuesday, with multiple on-chain indicators showing that Bitcoin prices have bottomed out.

According to data from TradingView, the total market capitalization of cryptocurrencies reached $2.7 trillion, down nearly $1 trillion from the peak in December 2024. Several indicators suggest that Tuesday's sell-off may mark a local bottom.

Andre Dragosch, Head of Research at Bitwise Europe, pointed out that the crypto asset sentiment index shows numerous signals of contrarian buying. The overall pessimism in liquidity, on-chain data, and the derivatives market indicates that downside risk is relatively limited. At these price levels, the risk-reward outlook appears quite favorable.

(Source Link)

Related tags

Bitcoin cryptocurrency market

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.