I don't see where new buyers are coming from until the new year (institutional allocations).
Bears are in control because they have more BTC right now so they can sell down.
Too many PlanB/EoY parabolic rally folks got liquidated and have little money left. Institutions are net sellers at EoY, typically.
Enthusiasm is waning, sentiment still has room to drop.
Perhaps whales will scoop up just before the new year and we'll have a bounce sooner, maybe they'll be the new buyers.
IDK - but $42k seems like an inevitable (near bottom) fill on a LO.
Bears are in control because they have more BTC right now so they can sell down.
Too many PlanB/EoY parabolic rally folks got liquidated and have little money left. Institutions are net sellers at EoY, typically.
Enthusiasm is waning, sentiment still has room to drop.
Perhaps whales will scoop up just before the new year and we'll have a bounce sooner, maybe they'll be the new buyers.
IDK - but $42k seems like an inevitable (near bottom) fill on a LO.