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Things are looking pretty healthy.
In comparison to the last range from $80k to $98k, this time, the foundations are much stronger.
Back then we had:
- Rising price
- Rising Open interest
- Deeply negative Coinbase premium
This time we have:
- Rising price
- Flat Open interest
- Positive Coinbase premium
There is a lot more genuine bid happening here with less people willing to ape in heavy with leverage.
Again, im not confirming we won't revisit the lows...
But this setup is far more favourable than last time.