Don’t Panic — Bitcoin Market Is Only In A Restructuring Phase: Blockchain Firm

The Bitcoin market has been in a state of uncertainty over the past few weeks, following its uncharacteristically negative performance in October. While the general market sentiment suggests that the end of the bull cycle might be near, the latest on-chain data indicates that the premier cryptocurrency might merely be undergoing a reset. According to a blockchain firm’s report, the recent sluggishness seems to be setting the stage for the coin’s next major move. BTC Not In A Cycle Exhaustion Phase: XWIN In the latest Quicktake post on the CryptoQuant platform, XWIN Research Japan revealed that the current situation of Bitcoin looks less like the end of a cycle and more like a restructuring phase. The DeFi firm believes that the market foundations are being reset after the clearing out of excess leverage in recent weeks. Supporting the claim of reduced leverage, XWIN Research highlighted that open interest in the...

https://bitcoinist.com/bitcoin-market-is-only-in-a-restructuring-phase/