Falling Bitcoin VIX confirming prices may have found their short-term bottom

Given the recent crypto market volatility, we are writing a bit more frequently to help ourselves and our readers better assess where the market may be headed. In our Sunday night note, we discussed how the market may be seeing an exhaustion of sellers. In our Monday night note, we discussed how that may have driven the market bounce we saw. On Tuesday and Wednesday (today), crypto markets have calmed down and more or less stabilized with Bitcoin now sitting around $39k.

Source: Bloomberg