Bitcoin Market Dip: Is It Just a Shake-Out or a Bottom Formation?

Recent volatility in the cryptocurrency market has sent shockwaves through Bitcoin’s price, leading to concerns about a potential market crash. However, CryptoQuant analyst XVIN Research offers a different perspective, suggesting that the current decline might be a temporary phase rather than a full-blown downturn. 24 hours ago, an estimated $1.7 billion worth of positions were liquidated due to overleveraged long bets, but exchange balances remain consistently declining. This shift towards self-storage suggests a stabilizing effect rather than an imminent selloff.