0xEastHash 🦴|Feb 06, 2026 08:10
Is Bitcoin like Q2 2022 now?
What is the time period after LUNA and before FTX?
one ️⃣、 Volatility:
As shown in Figure 1, this fluctuation, except for 3.12,
It only appeared in 2015, 2013, and 2012.
Not to mention 2022,
It's even more powerful than the 94 I had when I first retired.
At present, IV has surged by 110+% and RV has inverted by 160+%.
The market is already a black swan model without a visible black swan.
two ️⃣、 Mining machine:
As shown in Figure 2, the shutdown coin price is in the second dense zone.
First paragraph: 70k
Second paragraph: 56k
Third paragraph: 48k
The common features of 2015/2018/2022 are:
At least complete 1.5-2 shutdown intensive areas
Only then did we enter the true 'supply clearance'
three ️⃣、 Whale Loss:
Strategy / MSTR ≈ 713,502 BTC
Cost ≈ $76052
Floating loss of approximately $7.9 billion
BMNR ≈ 4,285,126 ETH
Cost ≈ $3849
Floating loss of approximately $8.3 billion
Trend Research ≈ 608,251 ETH
Cost ≈ $3180
Floating loss of approximately $700 million
Like mid-2018/Q2 2022
four ️⃣、 Greed Index:
As shown in Figure 3, extreme fear has persisted for some time.
Indicator passivation cannot indicate the bottom, it can only indicate a significant drop.
five ️⃣、 BTC EMA200 weekly chart:
sixty-eight thousand
As shown in Figure 4, EMA200 is an exponential moving average calculated based on the closing prices of the past 200 weeks, which is approximately the average price over the past 4 years.
The average bear market lasts for 9-15 months, with prices falling 70-85% from their highs (53% for 60k, a 4-month decline), but BTC has historically remained below EMA200 for a very short period of time (total time<10%)
six ️⃣、 Liquidation:
This time, both CEX and on chain liquidation are much lower than 10.11, but
BlackRock's IBIT transaction volume reached $10.7 billion,
Almost twice the previous peak, the option premium is about $900 million, both setting a historical record.
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