Bitcoin prints new cycle lows at $62092 as sentiment hits bottom and shorts pile in, setting up reversal toward 67K with 200-week MA break stalling.

According to Miles Deutscher, the crypto market breadth indicator, which measures the percentage of altcoins on Binance above their 50-day moving average, has dropped to cycle lows, reaching as low as 3%. This indicates a challenging environment for traders to find outperforming altcoins.