The market is not entirely pessimistic. Some analysts believe that $80,000 has formed a solid market bottom. Cointelegraph reports that analyst Arthur Hayes insists that $80,000 will hold. He expects that as liquidity improves, cryptocurrencies will experience a "rising tide effect." Some on-chain data also support this view, showing that floating supply has been washed out of the market.
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The market is not entirely pessimistic. Some analysts believe that $80,000 has formed a solid market bottom. Cointelegraph reports that analyst Arthur Hayes insists that $80,000 will hold. He expects that as liquidity improves, cryptocurrencies will experience a "rising tide effect." Some on-chain data also support this view, showing that floating supply has been washed out of the market.