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.

BTC Dump Sets Off Bull Trap Warning, Here’s Why You Should Be Careful
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Interesting data was published by Glassnode. Whenever the market price of bitcoin broke down the realized price, stuck there for a long time. On average, consolidation at the bottom took place 4-5 months and more, while now only a month has passed.

The exception was only in March 2020, so of course this cannot be called the golden rule. But the sign is clearly not bullish in the medium term. Before a full-fledged growth cycle, the accumulation must also be complete.

The price of bitcoin has entered the low-risk zone according to the SOPR metric from CryptoQuant. There is still the potential to go lower (when compared with previous super-corrections). But in this case, the price will come to the historically ideal level for buying, from where reversals have always occurred.
Even now, the price looks attractive📈

The number of crypto-users will exceed one billion by 2030 (BCG forecast). We compared the graph with Internet users.

The weekly review from Glassnode once again underlines the idea that the market cannot turn around so quickly. Despite the rebound from the $20,000 level, macroeconomic factors imply that it will take much longer for the bottom to form.

Bitcoin is up 7.5% today and is back above the average aggregate price of longs again (Glassnode data). Locally, the situation is turning bullish again 📈

Breaking: Petition Seeking SEC Chair Gary Gensler Resignation Picks Pace
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This is how the dependence between the accumulation of BTC by large wallets and the price of bitcoin looks like. According to the chart, the bottom is already somewhere very close.

This year, for the first time, Ethereum's trading volume has equaled that of Bitcoin (KAIKO). If we add here the upcoming transition to proof of staking, then the global interest in ETH can significantly exceed the main cryptocurrency.

Now there is another surge of sarcastic expressions in the crypt like Tuzemun, Lambo, etc. (santiment). Obviously, there is practically no faith in growth now, and as history shows, this very often led to growth📈

Breaking: Blockchain Devs Build Alternate Website To Counter U.S. Ban
https://bit.ly/3zIngcO

There is a fairly simple marker on how to spot a bull or bear market. When BTC moves from spot to derivatives exchanges, it means an uptrend. Otherwise, the market is bearish.

We are clearly in a bearish trend right now, but when the 90-day moving average is crossed again, a full reversal can already be noted.
(CryptoQuant data)

It has long been no secret that the topic of the metaverses is insanely promising. And here Cryptorank also knocked out statistics on the top 10 projects with the highest ROI.

And it turns out that a decent share of the hype is already behind us. For example, the Axie Infinity project managed to bring its investors 184 x, The Sandbox earned 158 x, and Decentraland brought only a “modest” 44 x.
It is best to keep an index of metaverse projects in the portfolio. Since we still don’t know which project will shoot next, and which one will die, it is important to have diversification. A hundred x profit on one coin will more than cover losses on others.

If bitcoin does not hold the important support zone of ~$23,000, where there was a very powerful accumulation (in total, more than 1 million BTC were bought in this area), then a further fall may become an avalanche.
(Whalemap data)

An eloquent graph of the correlation between the price of bitcoin and the number of hodlers who do not touch their BTC for 1-2 years. (Whalemap)

Obviously, there are all prerequisites for a market reversal.