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Joao Wedson

#BearMarket According to on-chain data, Bitcoin has not yet confirmed a price #bottom.

Even so, many analysts, especially those relying on traditional market models, are already treating the bottom as established.

In my view, a price recovery alone does not confirm a structural shift.

We still need to see clearer signs of capitulation, deleveraging, and renewed capital inflows from short-term investors.

The market may be building a bottom. But claiming that the bottom is already in requires stronger evidence.

Data confirms. Narratives anticipate.

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