Crypto Market Update: Bitcoin Drop Continues

The crypto market is not doing well. Bitcoin’s price has fallen to below $35,000. Now it is only a little higher than its opening at the beginning of the year. Crypto Briefing interviewed an analyst and tried to understand why this happened since last year and what may happen next for bitcoin.

Crypto Market Update: Bitcoin Drop Continues

The Market’s Leading Players 

Traders cannot justify the volatility in crypto assets on Elon Musk’s tweets or if weaker people sell their coins alone.

To understand the noise, there is on-chain data that can help identify trends. Jarvis Labs has designed several on-chain models that help them spot short and long-term trends. They deploy AI techniques and trading bots to identify the leading players in the market.

Market makers are the people who help make trading work. They buy and sell things to keep the market going. They change their strategy, depending on how the market is doing. Usually, they do this by making money from other people buying crypto-related products.

There are other kinds of fish in the market. Important ones are whales. They have deep pockets and buy a lot of things. Then there are sharks, who trade often and come to where the water is shallow (or something like that). And finally there’s you, but you’re not important because you don’t have any money.

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