Buying Bitcoin now is like trying to catch a falling knife. For all that’s clear, sentiment is in tatters. Crypto has been in turmoil for the past few weeks.
After Bitcoin crashed below $100,000, it has been a one-way trip. There have been dead cat bounces here and there, but sellers are pretty much in charge.
Following the dip below $90,000, the total crypto market cap is below $2.9 trillion. What’s more? As retailers dump, there is a clear rotation to stablecoins. The Bitcoin and Ethereum dominance is falling, while that of stablecoins like USDT has increased over the last week of trading.