The post Crypto Is Broken: Top Analyst Chris Burniske appeared on BitcoinEthereumNews.com. Crypto is broken Range not enough The most recent market crash, according to leading cryptocurrency analyst Chris Burniske, has severely damaged investor confidence. He predicts that the crypto market may remain broken for some time before a significant recovery starts. Crypto is broken Former ARK Invest crypto lead Burniske, who is currently a partner at Placeholder VC, said he is more and more convinced that last Friday’s massacre broke crypto for a while. It has been difficult to quickly develop a sustained bid due to the sell-off’s extreme violence, he claims, because the market’s structural and psychological harm is more extensive than most people realize. BTC/USDT Chart by TradingView Burniske noted that this cycle has been disappointing for most — not only due to price underperformance in comparison to expectations but also to the waning of the enthusiasm that once propelled speculative growth. He claims that investors are currently paralyzed, torn between anxiety about additional drawdowns and hopes for a return to previous all-time highs. Range not enough Using Bitcoin and Ethereum’s monthly linear charts as examples, Burniske stressed that although both assets are still in an elevated range, the structure is beginning to show cracks. Both Bitcoin and Ethereum are displaying signs of exhaustion following their parabolic runs, with Bitcoin hovering just above $100,000 and Ethereum fighting to stay close to $3,900. He went on to say that this configuration suggests an unsustainable equilibrium, one that could collapse before a true recovery takes shape. Furthermore, he cited macro correlations, pointing out that the fragility of the credit market, the warning signs of gold and the weakness of MicroStrategy (MSTR) all point to a generalized risk-off attitude. Indicating that stocks are trailing the macro shift already evident in cryptocurrency, he stated, “Stocks will be the last to get the message.”… The post Crypto Is Broken: Top Analyst Chris Burniske appeared on BitcoinEthereumNews.com. Crypto is broken Range not enough The most recent market crash, according to leading cryptocurrency analyst Chris Burniske, has severely damaged investor confidence. He predicts that the crypto market may remain broken for some time before a significant recovery starts. Crypto is broken Former ARK Invest crypto lead Burniske, who is currently a partner at Placeholder VC, said he is more and more convinced that last Friday’s massacre broke crypto for a while. It has been difficult to quickly develop a sustained bid due to the sell-off’s extreme violence, he claims, because the market’s structural and psychological harm is more extensive than most people realize. BTC/USDT Chart by TradingView Burniske noted that this cycle has been disappointing for most — not only due to price underperformance in comparison to expectations but also to the waning of the enthusiasm that once propelled speculative growth. He claims that investors are currently paralyzed, torn between anxiety about additional drawdowns and hopes for a return to previous all-time highs. Range not enough Using Bitcoin and Ethereum’s monthly linear charts as examples, Burniske stressed that although both assets are still in an elevated range, the structure is beginning to show cracks. Both Bitcoin and Ethereum are displaying signs of exhaustion following their parabolic runs, with Bitcoin hovering just above $100,000 and Ethereum fighting to stay close to $3,900. He went on to say that this configuration suggests an unsustainable equilibrium, one that could collapse before a true recovery takes shape. Furthermore, he cited macro correlations, pointing out that the fragility of the credit market, the warning signs of gold and the weakness of MicroStrategy (MSTR) all point to a generalized risk-off attitude. Indicating that stocks are trailing the macro shift already evident in cryptocurrency, he stated, “Stocks will be the last to get the message.”…