TechFlow news: EMC Labs tweeted that after BTC sharply dropped to $58,400 yesterday, it failed to break below the previous low, and the surge in trading volume indicates significant buying interest in the $58,000–$60,000 range. Short-term traders are overall in floating losses; they sold 28,000 BTC yesterday, realizing over hundreds of millions of dollars in losses. The Fear & Greed Index fell to 30, entering the "fear" zone.
Considering technical indicators and market conditions, EMC Labs believes the medium-term correction of BTC has likely ended, and the market will rebound from $58,400. During yesterday's extreme panic, 9% of the top 500 cryptocurrencies have already started to recover. These projects deserve close attention in the coming period.
