I noticed that myot's latest analysis points to something important – the buying pressure on Bitcoin is actually absent at current levels. I saw that last week's decline was driven more by macroeconomic factors than anything else, and the market quickly absorbed the geopolitical panic because people believed that a 45% drop was enough.

The real issue according to myot is energy and oil prices. If they continue to rise, inflation will stay high and central banks won't cut interest rates soon. This is not favorable for cryptocurrencies.

I saw a funny opposite in Bitcoin fund flows – over a billion dollars came in last week after five consecutive weeks of outflows. But myot says institutional buyers are actually inactive. Demand is very weak at current levels, which makes the market very fragile in my opinion.