AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
A fresh start. Post-meltdown recovery ensued as on-chain volume accumulated near the $55k level, forming some level of support that fuelled the hopeful, albeit feeble, Monday comeback. The weekend tumult has no doubt reset some of the aggressive bullish sentiment incited by BTC reaching ATH. Short-Term Holder SOPR witnessed the largest dip below its normative line (set at 1.0) since the massive $29k correction in January. The reset suggests that some of the new crypto entrants are shaken out during the weekend scare, though history indicates that a low SOPR has been constructive to long-run price actions during bull markets — not to mention corrections as much as 30% are not uncommon to seasoned crypto traders. Welcome to the world of volatility.