Market Movement Factors ⬇️🟥 Market: According to CoinMetrics, the flow of miners to exchanges has reached its peak in January. ⬆️🟩 Bitcoin ( #BTC ): A. Hayes stated that BTC has already reached the bottom of the current cycle. But a reversal of the market trend should be expected after the Fed stops raising rates. ⬇️🟥 Bitcoin ( #BTC ): according to Ycharts, May became one of the worst months for BTC miners, revenue and profitability fell by 27%. ⬆️🟩 Ethereum ( #ETH ): According to Glassnode, the number of ETH addresses holding 32 or more coins hit a 13-month high of 111,044 . billion Arthur Hayes has a new essay out. Key points are : 👉🏻Because of LFG's sale of its reserve in BTC, I'm even more certain that $25,000 - 27,000 for BTC is the bottom of this cycle 👉🏻I don't blame the Fed for the TerraUSD crash. His downfall was preordained because of his model. The Fed was just the catalyst for this 👉🏻VNO: $25,000 - $27,000 is the bottom for BTC; $1700 - 1800 is the bottom for ETH. 👉🏻While we have bottomed out (hopefully), this does not mean that prices will automatically go up to $70,000 (BTC) and $5,000 (ETH) 👉🏻ETH will rise to $10,000. This year is unlikely
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