Tomáš Hančar
Miners been selling for over two weeks, bad news keep on hitting, yet price refuses to dump!
About two weeks ago I published a 'bottom call' (https://cryptoquant.com/quicktake/62b1200ec9b2cc41ae0dce40-I-think-the-bottom-may-just-be-in-if-not-at-least-the-worst-behind-us) - since then, not much has changed price wise, however we got tonnes of bad news about the widespread 'crypto contaigon' (funds & platforms blowing up left, right & center, SBF stepping in a la JPM 1907, etc.) and on top of that, miners have dumped about 10k coins since the major local top in miners' reserves on 17th of June. According to the sentiment, news and enormous selling pressure not just from miners, one would have expected we'd be way lower. I personally view this as a constructive contrarian sign for the bulls. I still maintain the bottom is very likely in, if we don't make new lows in the next two weeks, I would be considering it pretty much confirmed - someone clearly is leaning their accumulatory buys against whoever may be still selling. The range is clearly defined, we just need to get out.