The Trust Layer for Market Analysts

Bitcoin has fallen below its previous cycle all-time high, showing 9 days of consecutive lower highs and lows. This steady selling pressure, amounting to nearly $5 trillion wiped out across global markets in the last 24 hours, is not indicative of retail panic but rather strategic, institutional selling. The RSI is lower than in the 2022 bear market, suggesting extreme oversold conditions. While the 200-week moving average at $58,000 has historically served as support, the current trend suggests further downside potential, possibly testing lower levels. The lack of a clear catalyst for this broad market decline, including in gold, silver, S&P 500, Nasdaq, and Russell 2000, points to a broad deleveraging event driven by fear of ongoing inflation and the potential for continued tightening monetary policy.