Currently, the cryptocurrency market has cooled down significantly due to long-term sideways movement and adjustments, but has shown poor movements, failing to break through upwards five times since March.
If you look at the trend of the moving average of the short-term/long-term SOPR, you can see that a Dead Cross has appeared.
Due to the expected US base rate cut on September 18, a short-term rebound due to positive market sentiment can be expected, but if the market atmosphere is not significantly reversed, it is highly likely that frustrating movements will continue in 2024.
It is regrettable that the frustrating situation continues, but it seems necessary to wait for 2025 with a long breath and patience.
Written by Crypto Dan