Though we are seeing the makings of some favourable readings in many on-chain, derivatives, technical and sentiment indicators, the macro and liquidity environment moving forward remain a significant headwind for crypto assets. Rather than signaling a bottom, many of these metrics are perhaps confirming we are indeed in a bear market.Investors should act accordingly; deploy capital in a conservative manner with a long-term time frame, and understand that there may be significant downside ahead.Any rallies from here will likely be sold as they will simply not be supported by the macro environment. Hedging further downside remains a wise strategy at present.
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