The worldwide asset price meltdown has hit crypto the hardest as a brutal wave of bankruptcies has been shaking up the sector.Technically, Bitcoin is very oversold and has a good chance to form a little recovery over the coming weeks.The beaten-down panic sentiment provides the best contrarian buy signal in over two years.Macro Update - As Panic & Recession unfold in 2022, the one and only question is, when will the Fed end its tightening cycle?A worldwide asset price meltdown is shaking up the minds of all investors & traders these days. Nothing seems safe anymore and the crypto sector was hit the hardest.ReviewWith the clear break of the support around 37,500 USD, the sell-off in the crypto sector intensified dramatically from the beginning of May and Bitcoin (BTC-USD) prices plunged to 25,400 USD within just one week. Despite the already heavily oversold situation at that time, only a tentative recovery or countermovement succeeded afterwards, which already found its end at 32,375 USD.Starting June 6th, bears went directly into attack mode and pushed Bitcoin prices within just 12 days down to 17,600 USD, the lowest level since December 2020. Following this crash, prices are once again only very slowly and tentatively getting back on their feet. So far, they have only managed to recover to 22,400 USD. The bottom line is that Bitcoin has lost almost 75% from its all-time high around 69,000 USD on November 10th, 2021.Ether...
