How bad is the current state of crypto? On-chain analyst explains

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Despite the market downturn and the widespread negative sentiment in the industry in the wake of the FTX collapse, on-chain data still show reasons to be bullish on Bitcoin (BTC).

As pointed out by on-chain analyst Will Clemente, it’s enough to look at the positions of long-term holders, which reached an all-time high despite their profitability being at an all-time low.

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