Placeholder Partners: After the recent sharp decline in the crypto market, sustained buying pressure is unlikely in the short term. If BTC falls to $75,000 or below, it may be a good opportunity to buy again

ChainCatcher news, former Ark Invest crypto head and current Placeholder VC partner Chris Burniske stated, "I increasingly feel that last Friday's crash has put the crypto market in a standstill in the short term. After such a collapse, it’s hard to quickly form sustained buying pressure. This cycle has been disappointing for most, which may limit action as everyone is waiting for the market to warm up or return to previous historical highs. It’s easy to get caught up in the minutiae of charts, but if you look at the monthly charts of BTC and ETH, they show that we are still in a high range (though there are already cracks), if you are considering taking profits. MSTR is declining, gold is sending warnings, and the credit market is too, while stocks will be the last to react. We can always expect a weak rebound, but I have taken action (remember, cashing out is never all or nothing). I will observe BTC's reaction to $100,000, but when BTC reaches $75,000 or lower, I might be interested in the market again. This bull market is different from the past, and the next bear market will be different as well."