Panic sentiment has reached its peak and Bitcoin is showing signs of concentrated buy the dips near $80,000

According to the news from Mars Finance, on March 19, on-chain data analyst Murphy released a chart analysis stating that: "Compared to the two waves of declines from February 28 and March 10, the realized losses (including on-chain losses and losses transferred to trading platforms) in the second wave were clearly smaller than the first wave. However, the second wave of decline was deeper, but there were not more loss-making positions despite the lower prices, indicating that the panic sentiment has waned after reaching its peak. At the same time, we also observed that during the second wave of correction from March 7 to March 13, the active buy orders for BTC spot on Coinbase started to increase, indicating that US investors are still quite interested in BTC around $80,000 and have the intention to during the decline." "From a macro perspective, the data released by the Federal Reserve at 2 am on the 20th and Powell's subsequent speech may be an important node. As long as the situation is not worse than expected, the current data seems to have the conditions for a short-term rebound; whether it will be a weak or strong rebound depends on how the market interprets it." The sharing is for learning and communication purposes only and not as investment advice.