Bitcoin enters bearish territory as institutional buying wanes and key indicators turn negative, signaling a potential end to the current market cycle.
Bitcoin is entering bearish territory as institutional demand dries up and key market indicators point to a downward phase, according to data from analytics platform CryptoQuant.
Bitcoin (BTC) market conditions have turned the “most bearish” within the current bull cycle that started in January 2023, CryptoQuant said in its latest crypto weekly report shared with Cointelegraph.
CryptoQuant’s Bull Score Index has declined to extreme bearish levels of 20/100, while the BTC price has fallen far below the 365-day moving average of $102,000 — a key technical level and the final bearish signal marking the start of the 2022 bear market.
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