Bitcoin Price Tests Critical Support Levels

“Today, as bitcoin hovers above a critical $28,000 rate and technical level, weve yet to see major capitulation play out in the broader equities market as bitcoin reaches its all-time highest equity market connections. The bitcoin market value to realized value ratio suggests a cooled, but not yet overcooled duration a sign of market capitulation bottoms.Capitulation-like sell-offs across wider cryptocurrencies, in BTC terms, played out over the last couple of days with Luna losing 98.76%. It is likewise worth keeping in mind that if 2022 brings an extended period of consolidation/bear market rate action, the completely watered down market cap of many altcoins is much bigger as a portion of market cap today (i.e., further inflation/dilution of the possession).

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