These indicators indicate that Bitcoin may be at the beginning of the bear market: Cryptoquant

Analysts on the Market Intelligence Cryptoquant platform on the signs of the evaluation measures on the chain indicating that Bitcoin (BTC) may be at the beginning of the bear season.

According to Cryptoquant a reportBitcoin correction is not unusual in size because such declines have seen the last bull race. However, the situation indicates all the evaluation measures that the leading cryptocurrency is either at deep value levels or in a deeper correction stage, which usually appears during the bull seasons.

BTC in the Habboudia region?

Cryptoquant said that all bitcoin evaluation measures indicate that the market is in the Habboudia. The Bitcoin Bull-Bear Market Course in its most level in this tournament, while the value of the achieved value of the achieved value (MVRV) decreased to less than the moving average for 365 days.

The MVRV ratio, which drops to less than 365 days, indicates that the momentum in the upward price of Bitcoin has become weak. Historical data reveals that when the percentage of MVRV and the bull’s market cycle index decreases to their current levels, BTC is either in a sharp correction or on the lips of the bear market.

Bitcoin demand is not excluded. This scale is still in a shrinking area, and whales have reduced the pace of accumulation. Last week, Bitcoin’s apparent demand contracted at the fastest pace since July 2024, rapidly decreased by 103,000 BTC. Besides whales, other big investors see the annual BTC accumulation rate dramatically – from 368000 BTC in January to 268,000 BTC today.

BTC can decrease to $ 63,000

With the growth of the property of big investors, the US-based funds (ETFS) has become a clear BTC-vendor, a trend that sharply contradicts their purchases in the same period last year.

Cryptoquant found that the Bitcoin Spot investment funds have bought a $ 0.7 billion BTC’s investment so far, which is far from $ 8.7 billion in purchases that were seen this time in 2024. This indicates that these funds were clear sellers this year, which puts additional pressure on Bitcoin price.

In addition, the BTC size that flows into the CoinPase American Crypto Exchang collection has decreased from other trading platforms to less than the moving average for 90 days. This is evident in the pulse of the exchange flow between Cryptoquant, which was in a period of price correction since February 13 while BTC was trading about $ 96,000. Metal currencies often flow to the currency base when the demand is high.

Meanwhile, encrypted analysts believe that BTC can decrease to $ 63,000 if it fails to obtain the support level between $ 75,000 and $ 78,000. The origin He deserves $ 82,000 at the time of the press, and $ 63,000 represents the minimum trader in the chain minimum prices achieved.