Amid rising stablecoin inflow, cautious traders fear a dead cat bounce

From cointelegraph.com

The recent extreme volatility in the cryptocurrency market following Bitcoin’s (BTC) dip to $30,000 and the recovery to $38,000 has traders confused about whether the current price action is a ‘dead cat bounce’ which will see token prices head lower or a solid reversal that will set the floor for the next leg higher for the market. While BTC price still remains more than 40% below its all-time high of $64,863, bulls have managed to weather multiple attempts to significantly break below support at $36,000. chart A closer analysis of on-chain data and exchange inflows shows that Bitcoin's sell-off led to the ... (full story)