The "CryptoQuant" platform publishes indicators showing that Bitcoin may be on the brink of a bear market!
Analysts from “CryptoQuant” pointed to signals indicating the possibility of Bitcoin's (BTC) price entering a bear market, based on valuation metrics on the supply network.
Although the current correction is familiar compared to previous bull cycles, data indicates unusual weakness in Bitcoin's upward momentum.
“CryptoQuant” clarified that the market cycle indicator and the “Z-score” metric for the market cap to realized value (MVRV) have reached low levels, indicating that Bitcoin is either undergoing a sharp correction or approaching a bear market.
The accumulation rate of major investors has decreased from 368,000 Bitcoins in January to 268,000 Bitcoins currently.
Additionally, Bitcoin spot exchange-traded funds (ETFs) in the United States are no longer purchasing at the same pace as before, having bought only $0.7 billion worth of Bitcoins this year, compared to $8.7 billion during the same period in 2024.
According to the analysis, Bitcoin's price could drop to $63,000 if it cannot maintain the support level between $75,000 and $78,000.
Currently, Bitcoin is trading at $82,000, while $63,000 represents the minimum realized price on the network (MVRV) for traders.
