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Will Bitcoin Recover? 🔁
Amidst Bitcoin's recent #dip to $38,500, signs of a potential recovery emerge.
The introduction of the first US spot Bitcoin ETFs faced challenges, with the Grayscale Bitcoin Trust (#GBTC ) experiencing outflows, possibly tied to its conversion.
On-chain metrics, specifically the Advanced Network Value to Transaction (#NVT ) Signal, suggests oversold conditions, mirroring the 2022 bear market.
Long-term holders (LTHs) displayed capitulatory behavior, sending coins to exchanges at a loss, raising concerns of a deeper downturn.
As the industry debates whether Bitcoin has bottomed, attention remains on ETF flows, institutional moves, and hodler sentiment.
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