David Hoffman: BTC is at the 200-week EMA, and the current environment is difficult to replicate an FTX-level systemic crash

Comparing the news, David Hoffman, co-founder of Bankless, who previously announced the clearance of ETH, issued an opinion stating that currently the price of Bitcoin happens to be on the 200-week moving average (MA). Reviewing market history, BTC only effectively fell below this moving average during the bear market phase when successive thunderstorms triggered a series of industry liquidations by Terra, Three Arrows Capital, and FTX. It is also an extremely destructive systemic crisis in the history of the crypto industry. In his view, the market risks brought about by Michael Saylor's Strategy launch operations such as convertible bonds are far below the level of harm caused by a series of thunderstorms back then. Furthermore, it once again disclosed the cost of holding chips. NEAR's position opening cost is about 1.4 US dollars, HYPE is about 45 US dollars, and ZEC is about 560 US dollars.

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