Summary: The article analyzes on-chain, trading, and sentiment data to determine if the bottom is in for crypto markets after the recent recovery, or if more downside is still expected.
- MVRV ratio approaching 1 indicates sellers are exhausted.
- Long-term holder capitulation has peaked.
- 4 out of 10 recovery indicators confirmed, uptrend still weak.
Trading and financial data:
- Spot volume high, leverage low indicating less speculation.
- Stablecoins still leaving crypto, cautious sentiment.
- Low financial stress across markets.
Sentiment on Crypto Twitter:
- Influencers leaning bullish, think upside more likely.
- One notable exception remains firmly bearish.
- Indicators show bottom likely in but macro uncertainty persists.