
Is the crypto bottom in? On-chain says yes, macro says pain occurs after the fed pause
Is Bitcoin poised for a new low or has the bottom been set at $15,500? CryptoSlate analyzed on-chain and macro data to present both sides of the argument.
Andjela Radmilac • Updated: February 4, 2023
Table of Contents
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Sections- Introduction
- Why the market bottomed - Whales are accumulating
- Long-term holder supply is increasing
- Perpetual funding rates are no longer negative
- Total supply in profit is growing
- On-chain indicators are flashing green
- The Fed is pausing interest rate hikes
- Why the market hasn't bottomed - Uncertainty around narratives
- The volatility of the U.S. dollar

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.