The Bear Market phase in financial markets is a prolonged period during which the market experiences a continuous decline in prices, often by 20% or more from a previous high. Investor sentiment tends to be negative, with fear and pessimism dominating, and it is often accompanied by economic slowdown or negative news.

Characteristics of the Bear Market phase:

- Decline in stock, currency, or asset prices in general.

- Increase in selling due to panic or loss of confidence.

- Lack of liquidity in the market.

- Investors tend to favor preserving capital over taking risks.

Typically, the Bear Market phase presents an opportunity for savvy investors to buy assets at low prices (buy the dip), but with the condition of managing risks well. Would you like me to explain the difference between the Bear Market and Bull Market phases?