Bitcoin (BTC) 
$91,270.62 The price is above 91 thousand dvos and ETH has regained 3 thousand dollars. Cryptocurrencies are largely calm as US markets are on holiday. Although the fear has not yet been reset, some metrics say that cryptocurrencies are experiencing their biggest sales period and the rise should now continue. Poppe underlined this today.
Cryptocurrencies are at the Bottom
In the days when the $80,000 level was tested, many analysts were worried about deeper bottoms. However, many metrics showed that the price had reached the bottom in those days. Although the rapid decline of 40 thousand dollars paved the way for the current recovery, investors are not sure whether the rise will continue.
Michael Poppe says that such extreme sales have happened twice before. 2018 crash and 2022 FTX crash. Both seemed like a huge nightmare, but the metrics highlight the possibility that we may not understand the oversold environment we are in as the price rises.
“Bitcoinat the most oversold levels in its history. Still, people wanted to buy at $120,000 and are now considering buying at $60,000.
Never change markets, but when you look at the overall data, this market has a significantly higher chance of recovering as quickly as others. It has never been this low.
The cases where we reached such a low level recently were as follows;
2018 bottom.
2022 bottom FTX and LUNA collapse.”
ETH and HYPE Coin
ETH He won $3,000. For now, the area targeted by DaanCrypto is between $3,300 and $3,400. However, the analyst offers a medium-term assessment and warns that levels below 2,000 dollars may be seen again in an environment where $ 2,600 was lost. The analyst, who marked 2 key levels in the chart below, reminds us that we are in the range where the previous rise started and we have not yet escaped from the decision zone.
Martinez’s favorite HYPE Coin continues to monitor during this period.
The target is a drop to $25 and depending on the reaction from there, the targets on the chart may be tested.
