Don’t Be Fooled: Why Exchange Shutdowns Might Not Mean Bitcoin Has Bottomed
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Speculation has surged that Bitcoin has hit its cycle bottom after recent centralized exchange shutdowns, with observers treating these CEX failures as a potential market turning point. Crypto analyst Joao Wedson says on-chain and market data do not support that conclusion, signaling continued risk rather than a clear signal for price recovery, adoption, or DeFi/CEX stability.
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The crypto market is once again filled with speculation over whether Bitcoin has reached its cycle bottom. Recent exchange shutdowns have been fueling a popular narrative that such failures are a sign of a market turning point.
Crypto analyst Joao Wedson, however, said the data does not support that conclusion.
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Why Bitcoin’s Current Setup Looks ‘Constructive’ Despite the Pullback
