@pachec0
š° Violent Volatility:
1/ Digital assets faced intense volatility due to strong seller pressure. Bitcoin fell 28%, while Ethereum and Solana plummeted over 50% from their peaks.
2/ This move was amplified by economic uncertainty and speculation about a US strategic digital asset reserve.
3/ After Trump announced a reserve including BTC, ETH, SOL, ADA, and XRP, the market briefly recovered but quickly retraced, a typical "sell the news" event.
4/ Bitcoin's volatility surged, with 1-2 week windows exceeding 80%, the highest this cycle.
5/ Between Feb 26 and Mar 3, over 150K BTC ($14.2B) were bought below $86K.
6/ On-chain metrics indicate $92K as a key resistance and $70K as major support.
7/ These events highlight the need for caution and close monitoring of on-chain conditions.
š Source: Glassnode
/degen /farcaster
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