Asia Morning Briefing: Even Prediction Markets Didn’t See BTC's Selloff Coming

Bitcoin's recent decline has caught traders by surprise, leading to a shift in sentiment within prediction markets. The drop, which saw Bitcoin fall 27% from its monthly high, signals a potential deeper structural issue within the cryptocurrency market. On-chain analysis suggests Bitcoin is facing late-stage capitulation pressures, but some analysts argue a definitive bottom has yet to be established. Institutional investors and retail traders alike were unprepared for this downturn, causing significant sentiment reset as expectations shifted toward further declines. Additional analysis from CryptoQuant indicates that while some exhaustion signs are emerging, the market is still lacking key indicators typically associated with a solid bottom, such as substantial realized losses. Overall, as Bitcoin hovers around $92,500, the ongoing volatility is prompting traders to reassess their positions amidst mixed signals regarding market recovery.

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