Bitcoin’s Bull-Bear Market Cycle Indicator presents a huge shift. The Bitcoin Bull-Bear Market Cycle Indicator of CryptoQuant signifies a macro trend reversal, displaying a potential end of the ongoing market cycle. A renowned crypto analyst took to social media to disclose Bitcoin’s potential trend trend shift.
Bitcoin Market Cycle Reveals Potential Conclusion of Current Cycle
Ali’s analysis points out that the macro trend reversal shown by Bitcoin Bull-Bear Market Cycle underscores the present market cycle’s end. In line with the market market statistics, this potential market cycle conclusion will lead to the next phase. In this respect, the data highlights a crucial shift in the market sentiment around Bitcoin over the recent months.
Bitcoin Is Likely Moving Within ‘Extreme Bear’ Territory
The Bitcoin Bull-Bear Market Cycle indicator categorizes market circumstances into diverse phases. These phases include Extreme Bear, Bear, Early Bull, Bull, and Overheted Bull. The recent market movements indicate Bitcoin’s transition into the bearish zone. Particularly, the top crypto asset has reportedly entered the “Extreme Bear” territory. This phase denotes the end of a market cycle, leading to the beginning of another market cycle.
Moving Averages Highlight Prolonged Bearish Sentiment
According to the crypto analyst, the price action of Bitcoin has recently gone through a sheer decline from $95K to below $80K mark. Simultaneously, the 365-day and 30-day moving averages also show a sharp downtrend. Keeping this in view, the Bitcoin Bull-Bear Market Indicator points toward a prolonged bearish sentiment instead of just a short-term correction.
