The level of capitulation of long-term BTC investors has reached the extreme zone (SOPR metric from CryptoQuant). This is where the final phase of the bear market and the reversal historically took place. This, of course, does not exclude the possibility of a further fall and a new stage of accumulation several months long, but globally the sign is positive.

Estimated leverage on bitcoin continues to grow and already looks menacing. The next momentum could wash away a huge number of margin traders and draw a giant candle. Be careful.
(data CryptoQuant)

According to Peter Brandt, the worst-case scenario for Bitcoin would be a fall to $13,000. This will be a full-fledged development of the double top pattern.
However, these are already obvious things. The chances of seeing a good rebound from $20,000 are very high, but getting a full reversal is doubtful.

Authoritative trader Peter Brandt believes that Ethereum may fall to the $300 area if the Head and Shoulders reversal pattern is fully worked out. At least for the current ones, he definitely does not want to buy.

Recently, all forecasts are like a selection - all pessimistic and one is worse than the other. But the simple truth that you need to buy when blood is shed in the markets and everyone is scared, has always worked flawlessly and brought excellent profits 🚀

The 2021-2022 bear market is well within the normal behavior of previous correction cycles. Moreover, at the moment it is even quite light in relation to the 2013-2015 and 2017-2018 cycles.

Plan B Analyst:
The reason most people don't buy at 20k is the same reason they didn't sell at 60k. Fear and greed. The first is because they are afraid of a further fall, the second is because they want to catch the very bottom.

But let's be honest, it's almost impossible to catch extremes perfectly. But everyone can follow the strategy of buying on the decline and selling on the growth.

And yes, the majority will still do the opposite, because. in the markets they are ruled by emotion, not logic.

Tether has reduced the volume of commercial notes among reserves from $45 billion to $8.4 billion and plans to reduce them to zero in the near future. CTO Tether said that the company's balance sheet is now stronger than ever.

At the same time, USDT remains the leader of the stablecoin market with a capitalization of $66.8 billion and a daily trading volume of $13.69 billion. In second place is the USDC stable. (Cryptorank)

The situation in the military-technical cooperation is still frankly not encouraging. According to CryptoQuant, the level of leverage is still very high.
Taking into account the hopeless situation in macroeconomics and the fixation of the MA below 200 during the week, there is still room to go down and take out the strongest hodlers.
At the same time, I don’t expect a frank drain either. Chatter with small breaks and drawing divers, as a rule, completes the correction cycle.

While the volume of sales in the NFT sector has been falling for a long time and has already reached a minimum for the last year, a very interesting trend has emerged. Sales on the Solana network began to significantly exceed trading on the Ethereum network. For Ethereum investors, this is a serious wake-up call that it is time to diversify.

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Bitcoin lost 60% of its value in the first half of the year. Regarding US tech stocks, the result is slightly worse than average, but far from the worst.

⚡️ Solana launches its Web 3.0 Crypto Smartphone priced at $1,000 each.

The phone will be equipped with:
- 6.67 inch OLED display,
- 12GB RAM
- 512 GB memory
- the latest Snapdragon® 8+ Gen 1 flagship mobile platform, with security features to enable the Seed Vault of the Solana mobile stack.

Binance CEO Faces Flak Over “Irresponsible” Uniswap Tweet, Here’s Why
https://bit.ly/3nRPBbb

Bloomberg quietly warns of an upcoming new market dump. Of course, the figure is bearish and the chances of this scenario are quite good, but they didn’t say anything new for sure. It is more than real to see the figures of $14,000-15,000 during the summer.

Breaking: Is Celsius Selling All Withdrawn stETH To Coinbase Custody?
https://bit.ly/3AKj66a

The vast majority of investors have already gotten used to the idea that we are in a bear market (santiment). Now, each new fall is perceived as the norm, there is practically no doubt that the price will collapse further.
Historically, this happens near the global bottom.

The average cost of bitcoin mining has fallen to $13,000 (JPMorgan). The capitulation of the miners is delayed, but the pressure on the market may increase. it is now profitable for them to sell the extracted military-technical cooperation again.

ETH and BTC market share dominance trend over the past 7 and 10 years 📊

India’s Central Bank Is Keen to Ban Cryptocurrencies, Says Finance Minister
https://bit.ly/3ObXIdb

Glassnode: 80% of BTC investments have been inactive for 3 months.

In 2012, 2015 and 2018, this was the signal for the end of the bear market 🤑

Over the past week, the tokens of the metaverse crypto projects have shown good growth. Among the leaders are UFO Gaming, Wilder World and Step app. (Cryptorank)

Globally, I see great prospects in this sector. It is unpredictable which of them will be able to survive. But whoever succeeds will bring a very large profit.
Below I will make an interesting poll on this topic.