$BTC is trading below the True Market Mean.
This is the average cost basis of all active supply once you strip out lost and dormant coins.
That level is around $80.2K, we’re at $70.8K
In past cycles, trading below this line meant the market needed time to recover.

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Bithumb, one of South Korea's largest cryptocurrency exchanges, has just shaken the market with a serious internal incident related to the distribution of rewards...

A Bithumb exchange employee accidentally 'gifted' 2,000 Bitcoin to a user, causing the price of BTC on the exchange to suddenly drop by 10%.

BitMEX co-founder Arthur Hayes wrote that the recent Bitcoin crash may stem from traders' concerns about IBIT (BlackRock) […]
The article, "Arthur Hayes Speculates on BTC Crash Cause: 'Institutional Hedging Operations': IBIT Options Explode $900 Million," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Arthur Hayes speculates that the reason for the BTC crash is "institutional hedging operations": IBIT options saw a surge of $900 million.

Bitcoin ($BTC) has recently gone through a sudden shift on Bithumb, a well-known South Korean crypto exchange. In this respect, the $BTC/KRW trading abruptly plummeted over 10% below the worldwide ave...