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Bitcoin Sell-Off Deepens Amid Geopolitical Shock — Is the Bottom In?
- Bitcoin is experiencing a sell-off due to geopolitical tensions between Israel and Iran, leading to fear-driven capitulation in the crypto markets.
- CryptoQuant's analysis shows that sellers are dominating order flow, with a sharp drop in BTC's Net Taker Volume indicating sustained downside momentum.
- Market reaction to the Israel-Iran conflict has caused fear-driven liquidations, leverage unwinding, and risk aversion in the crypto space.
- The sell-off coincides with an Israeli military strike on Iran, affecting global risk assets like equities and cryptocurrencies.
- There are indications that this wave of panic selling might signal a local bottom formation in the market.
- Factors supporting the potential bottom include capitulation by weak hands, potential whale accumulation, and contrarian indicators suggesting entry points for rebounds.
- The current -$197 million taker volume reflects extreme bearish sentiment, and historical data suggests aggressive sell-offs often mark turning points.
- While risks remain high, conditions may be aligning for a short-term recovery, raising the question of whether the bottom is in.
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