Bitcoin continues to fall, breaking through the support at 79000 bitcoins, is it saved?

Sol is constantly falling, is this the final chance to escape, or the final chance to fly? Has the coin market really entered a bear market, or is it just money laundering? This is a key question, its importance is obvious. As the Federal Reserve meeting in March approaches, people have begun to wonder if they will save the market this time. Does Sol still have a chance to recover? Another important factor will be the PCE inflation data that will be released this Friday - will they be a positive or negative factor? Let's find out together with Shucin.
First of all, it should be said that we are most interested in what has been happening in the cryptocurrency market lately, whether major players have started to withdraw funds. Frankly speaking, if we do not look at the blockchain data, the soul is truly filled with despair. However, according to the blockchain data, the situation is different. Major players on the blockchain are not transferring a large amount of coins to the exchange for sale, but on the contrary, they are buying coins and withdrawing them from the exchange. In such a situation, this usually means that Bitcoin is being washed, not the official start of a bear market.
According to historical data, when the market experiences significant instability, the movements of major players often have important indicative significance. If large players are exiting massively, then the likelihood of a bear market significantly increases. However, from the presented chain data, we can consider that the current market fluctuations are more likely an attempt to cleanse uncertain investors to prepare the ground for further market development. At the same time, we should also consider the impact of the global economic situation and political environment on the cryptosphere. In the current complex conditions, any minor factor can trigger a sharp market reaction. Altcoins today are no longer declining. For example, Bitcoin fell by almost 10% overnight, but most coins with a market capitalization above 50 did not show significant losses, and even some coins are showing very rapid growth dynamics, such as IP, PI, Kaito, and others. Usually, smaller coins drop first, followed by a Bitcoin correction to complete the last phase of cleansing, very similar to the situation last year in June-August.
In terms of the short-term perspective, Sol may soon encounter a turning point. Currently, Sol continues to decline, mainly due to a large unlock scheduled for March 1st. However, you should realize one thing, namely, that the negative factors are already priced in. Therefore, it is possible that Sol will experience a significant rebound from March 1st.
One can also alleviate some short-term reactions that came out of the negatives at the beginning of March, but everyone will see that this is short-term, as after unlocking these almost 2 billion coins next month, the selling pressure still significant, so everyone must closely watch the greed and fear index regarding Bitcoin, which after a year finally returned to a state of great fear, and history shows that every major panic is a great time to enter the market, so I think if you have money, you can buy at the lows, and if you don't, don't jump unnecessarily, if you want to escape, at least wait until it bounces back.
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