From this, we can identify when macro tides change in capital flows during the early stages of the bull and bear phases. The chart below presents how these two price models have provided market support during the 2023-24 bull.
$BTC
Since mid-June, the spot price has plunged below the cost basis of both the 1w-1m holders 🟠($68.5k) and 1m-3m holders 🔴 ($66.4k). If this structure persists, it has historically resulted in a deterioration of investor confidence, and risks this correction being deeper and taking longer to recover from.
