Bitcoin (BTC) starts a new week on shaky ground after its lowest weekly close in two years.
The last time that reserves were so low was in early 2018.
Turning to the moving average convergence divergence (MACD), analyst Matthew Hyland warned that the BTC/USD 3-day chart was about to repeat a bearish setup, which led to losses both times it appeared in 2022.
Crypto universe shrank to the equivalent of 1% of global equities,” part of new comments read on the day.
“Correction will be good for Bitcoin,” part of Twitter comments added.
Related: $3 billion in Bitcoin left exchanges this week amid FTX contagion fears According to the Crypto Fear & Greed Index, the industry may in fact be taking the slew of bad news in its stride.

Source - Coin Telegraph
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