Onchain data points to a major Bitcoin price drop in the making, while a bearish technical structure projected a drop to $68,000.
Bitcoin (BTC) is flashing early signs of a deeper correction, as the latest recovery pauses at $93,000. New analysis shows Bitcoin’s “market structure” increasingly resembles the first quarter of 2022, which marked the beginning of the bear market.
Key takeaways:
Bitcoin’s onchain structure mirrors early 2022, risking a deep bear market if key levels are lost.
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