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Home Bitcoin

BTC remains stuck in a sustained BEAR phase

September 12, 2024
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BTC remains stuck in a sustained BEAR phase
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  • BTC made significant gains in the past day, rising by 2.08%.
  • Despite the recent gains, Bitcoin remained stuck in a sustained bear phase.

Over the last 24 hours, Bitcoin [BTC] has made significant gains, rising from a local low of $55554 to $58038 at press time. This marked a 2.08% increase over the past day.

These gains are coupled with weekly gains of 1.83% a recovery from a sharp decline to $52546.

These current market conditions raise the question of whether BTC will experience a sustained recovery or a mere correction before further dip. The market sentiment remains bearish as analysts see a potential dip.

This sentiment is shared by CryptoQuant analysts who posit that BTC is stuck in a bear phase, citing the 365-day moving average and MVRV.

BTC stuck in bear phase

According to CryptoQuant, the Bull-Bear Market cycle has remained in the bear phase over the past two weeks.

Since the last time BTC was trading at $62k, the crypto has remained in a bear phase, dropping to a low of $52k in this period.

As long as it remains in this phase, a significant rally remains unexpected with potential for further correction.

Source: CryptoQuant

Secondly, the analysis cited that BTC’s MVRV ratio has remained below its 365-day moving average since the 26th of August. Such a scenario suggests the potential for a further decline, as was witnessed in May 2021.

During the 2021 cycle, BTC declined by 36% in two months β€” this reoccurred in November 2021.

Source: CryptoQuant

Another market indicator signaling a bearish trend is the long-term holders’ SOPR. According to CryptoQuant, long-term holders’ SOPR has declined since July, with LTH spending at lower profit margins.

See also  Insights on how Bitcoin market recovery resembles 2016 and 2019

When LTHs spend at lower profit margins, it shows a lack of new demand for BTC. Thus, BTC will only show a buying signal when LTH SOPR charts start an uptrend movement.

Source: CryptoQuant

Finally, BTC has decoupled from gold as its prices have declined while gold prices have been soaring, hitting new highs. Thus, the correlation between gold and BTC has turned negative, where gold’s price increased as BTC declined.

This suggested that investors were becoming risk-averse as they turned to traditional assets as a safe haven, thus avoiding volatile assets.

Source: CryptoQuant

What Bitcoin’s charts suggest

Looking ahead, both Bitcoin’s LTH-SOPR and STH-SOPR declined over the past week. When the LTH-SOPR declines, it suggests that long-term holders were increasingly selling their crypto at a loss.

When the STH-SOPR declines, it indicates that short short-term holders are also selling at a loss, due to FUD and fear of further downside.

Source: CryptoQuant


Read Bitcoin’s [BTC] Price Prediction 2024–2025


Additionally, Bitcoin’s NRPL has turned from positive to negative, indicating capitulation. This meant that investors have lost confidence in the crypto’s direction and were selling regardless of their losses.

Therefore, based on this analysis, BTC’s bear phase will continue, and the prices are likely to experience continued corrections. Thus, if bears continue to dominate, Bitcoin will drop to the $56k support level.

Source: CryptoQuant

Next: Will Bitcoin ETF flows turn negative again? What’s causing market jitters

READ ALSO

Bitcoin nears $91K as buying pressure soars, but challenges emerge

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

  • BTC made significant gains in the past day, rising by 2.08%.
  • Despite the recent gains, Bitcoin remained stuck in a sustained bear phase.

Over the last 24 hours, Bitcoin [BTC] has made significant gains, rising from a local low of $55554 to $58038 at press time. This marked a 2.08% increase over the past day.

See also  Bitcoin ETF investors are '20% worse off': Peter Schiff - Is this true?

These gains are coupled with weekly gains of 1.83% a recovery from a sharp decline to $52546.

These current market conditions raise the question of whether BTC will experience a sustained recovery or a mere correction before further dip. The market sentiment remains bearish as analysts see a potential dip.

This sentiment is shared by CryptoQuant analysts who posit that BTC is stuck in a bear phase, citing the 365-day moving average and MVRV.

BTC stuck in bear phase

According to CryptoQuant, the Bull-Bear Market cycle has remained in the bear phase over the past two weeks.

Since the last time BTC was trading at $62k, the crypto has remained in a bear phase, dropping to a low of $52k in this period.

As long as it remains in this phase, a significant rally remains unexpected with potential for further correction.

Source: CryptoQuant

Secondly, the analysis cited that BTC’s MVRV ratio has remained below its 365-day moving average since the 26th of August. Such a scenario suggests the potential for a further decline, as was witnessed in May 2021.

During the 2021 cycle, BTC declined by 36% in two months β€” this reoccurred in November 2021.

Source: CryptoQuant

Another market indicator signaling a bearish trend is the long-term holders’ SOPR. According to CryptoQuant, long-term holders’ SOPR has declined since July, with LTH spending at lower profit margins.

When LTHs spend at lower profit margins, it shows a lack of new demand for BTC. Thus, BTC will only show a buying signal when LTH SOPR charts start an uptrend movement.

Source: CryptoQuant

Finally, BTC has decoupled from gold as its prices have declined while gold prices have been soaring, hitting new highs. Thus, the correlation between gold and BTC has turned negative, where gold’s price increased as BTC declined.

See also  Bitcoin dominance slips to 53%: Time to bet on altcoins?

This suggested that investors were becoming risk-averse as they turned to traditional assets as a safe haven, thus avoiding volatile assets.

Source: CryptoQuant

What Bitcoin’s charts suggest

Looking ahead, both Bitcoin’s LTH-SOPR and STH-SOPR declined over the past week. When the LTH-SOPR declines, it suggests that long-term holders were increasingly selling their crypto at a loss.

When the STH-SOPR declines, it indicates that short short-term holders are also selling at a loss, due to FUD and fear of further downside.

Source: CryptoQuant


Read Bitcoin’s [BTC] Price Prediction 2024–2025


Additionally, Bitcoin’s NRPL has turned from positive to negative, indicating capitulation. This meant that investors have lost confidence in the crypto’s direction and were selling regardless of their losses.

Therefore, based on this analysis, BTC’s bear phase will continue, and the prices are likely to experience continued corrections. Thus, if bears continue to dominate, Bitcoin will drop to the $56k support level.

Source: CryptoQuant

Next: Will Bitcoin ETF flows turn negative again? What’s causing market jitters
Tags: BearBTCPhaseRemainsstucksustained

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    9 months ago

    ΠŸΠΎΠ²Ρ‹ΡˆΠ΅Π½ΠΈΠ΅ ΠΊΠ²Π°Π»ΠΈΡ„ΠΈΠΊΠ°Ρ†ΠΈΠΈ ΠΎΠ½Π»Π°ΠΉΠ½ maps-edu.ru

    Π’ настоящСС врСмя ΠΏΡ€ΠΎΡ…ΠΎΠ΄ΠΈΡ‚ΡŒ дистанционноС ΠΎΠ±ΡƒΡ‡Π΅Π½ΠΈΠ΅ являСтся ΠΏΠΎΠ»Π½ΠΎΠΉ Π½ΠΎΡ€ΠΌΠΎΠΉ. Π’Π΅Π΄ΡŒ ΠΎΠ½Π»Π°ΠΉΠ½ Π²ΠΎΠ·ΠΌΠΎΠΆΠ½ΠΎ ΠΏΡ€ΠΎΠΉΡ‚ΠΈ ΠΏΡ€ΠΎΠ²Π΅Ρ€ΠΊΡƒ Π·Π½Π°Π½ΠΈΠΉ, ΠΏΠΎΠ²Ρ‹ΡΠΈΡ‚ΡŒ ΠΊΠ²Π°Π»ΠΈΡ„ΠΈΠΊΠ°Ρ†ΠΈΡŽ долТности, ΠΏΡ€ΠΎΠΉΡ‚ΠΈ ΠΏΡ€ΠΎΡ„Π΅ΡΡΠΈΠΎΠ½Π°Π»ΡŒΠ½ΡƒΡŽ ΠΏΠ΅Ρ€Π΅ΠΏΠΎΠ΄Π³ΠΎΡ‚ΠΎΠ²ΠΊΡƒ ΠΈ ΠΌΠ½ΠΎΠ³ΠΎΠ΅ Π΄Ρ€ΡƒΠ³ΠΎΠ΅ Π² ΠΊΠΎΠΌΡ„ΠΎΡ€Ρ‚Π½ΠΎΠ΅ для Вас врСмя ΠΈ ΠΏΠΎ Π²Ρ‹ΠΈΠ³Ρ€Ρ‹ΡˆΠ½ΠΎΠΉ стоимости. На сайтС maps-edu.ru Π’Ρ‹ смоТСтС Π½Π°ΠΉΡ‚ΠΈ расписаниС ΠΏΡ€ΠΎΠ³Ρ€Π°ΠΌΠΌΡ‹ ΠΎΠ±ΡƒΡ‡Π΅Π½ΠΈΠΉ, ΡΡ‚ΠΎΠΈΠΌΠΎΡΡ‚ΡŒ, всС подробности ΠΎ нашСй Ρ€Π°Π±ΠΎΡ‚Π΅ ΡƒΠΆΠ΅ сСйчас.

    ΠŸΡ€ΠΎΠΉΡ‚ΠΈ аккрСдитация ΠΌΠ΅Π΄Ρ€Π°Π±ΠΎΡ‚Π½ΠΈΠΊΠΎΠ² ΠΌΠΎΠΆΠ½ΠΎ Π² прСдставлСнной Π°ΠΊΠ°Π΄Π΅ΠΌΠΈΠΈ. ΠšΠ°Ρ‚Π°Π»ΠΎΠ³ содСрТит ΡΠ²Ρ‹ΡˆΠ΅ 1800 Ρ€Π°Π·Π½ΠΎΠΎΠ±Ρ€Π°Π·Π½Ρ‹Ρ… ΠΏΡ€ΠΎΠ³Ρ€Π°ΠΌΠΌ курсов, ΠΈΠ½ΠΎΠ³Π΄Π° слоТно Π½Π°ΠΉΡ‚ΠΈ, Ρ‡Ρ‚ΠΎ Π½Π΅ΠΎΠ±Ρ…ΠΎΠ΄ΠΈΠΌΠΎ ΠΊΠΎΠ½ΠΊΡ€Π΅Ρ‚Π½ΠΎ Π’Π°ΠΌ. МоТно ΠΏΠΎΠ»ΡŒΠ·ΠΎΠ²Π°Ρ‚ΡŒΡΡ поиском, ΡƒΠΊΠ°Π·Π°Π² Π½Π°ΠΏΡ€Π°Π²Π»Π΅Π½ΠΈΠ΅ ΠΈ ΠΈΠ½Ρ‹Π΅ ΠΏΠ°Ρ€Π°ΠΌΠ΅Ρ‚Ρ€Ρ‹. Π Π΅Π°Π»ΡŒΠ½Ρ‹Π΅ направлСния: ΡΡ‚Ρ€ΠΎΠΈΡ‚Π΅Π»ΡŒΡΡ‚Π²ΠΎ, агрономия, ΡŽΡ€ΠΈΡΠΏΡ€ΡƒΠ΄Π΅Π½Ρ†ΠΈΡ ΠΈ ΠΏΡ€Π°Π²ΠΎ, Π΄ΠΎΠΊΡƒΠΌΠ΅Π½Ρ‚ΠΎΠ²Π΅Π΄Π΅Π½ΠΈΠ΅ ΠΈ дСлопроизводство, дСфСктология, поТарная Π±Π΅Π·ΠΎΠΏΠ°ΡΠ½ΠΎΡΡ‚ΡŒ, ΠΏΠ΅Π΄Π°Π³ΠΎΠ³ΠΈΠΊΠ°, ΡΠΎΡ†ΠΈΠ°Π»ΡŒΠ½Π°Ρ Ρ€Π°Π±ΠΎΡ‚Π°, антитСррористичСская Π·Π°Ρ‰ΠΈΡ‰Π΅Π½Π½ΠΎΡΡ‚ΡŒ, ΠΎΡ…Ρ€Π°Π½Π° Ρ‚Ρ€ΡƒΠ΄Π°, элСктротСхника, ΠΌΠΎΠ½Ρ‚Π°ΠΆΠ½Ρ‹Π΅ Ρ€Π°Π±ΠΎΡ‚Ρ‹, Π³ΠΎΡ€Π½ΠΎΠ΅ Π΄Π΅Π»ΠΎ ΠΈ ΠΌΠ½ΠΎΠ³ΠΈΠ΅ Π΄Ρ€ΡƒΠ³ΠΈΠ΅.

    ΠžΠ±Ρ€Π°Ρ‰Π°ΠΉΡ‚Π΅ΡΡŒ Π·Π° ΠΏΡ€ΠΎΡ„ ΠΊΠΎΠ½ΡΡƒΠ»ΡŒΡ‚Π°Ρ†ΠΈΠ΅ΠΉ ΠΏΠΎ Π½ΠΎΠΌΠ΅Ρ€Ρƒ Ρ‚Π΅Π»Π΅Ρ„ΠΎΠ½Π° 8(800)777-06-74 ΠΈΠ»ΠΈ ΠΎΡ„ΠΎΡ€ΠΌΠΈΡ‚Π΅ ΠΎΠ±Ρ€Π°Ρ‚Π½Ρ‹ΠΉ Π·Π²ΠΎΠ½ΠΎΠΊ. Π Π°Π±ΠΎΡ‚Π°Π΅ΠΌ ΠΏΠΎ всСй Π Π€ ΠΈ Ρ‚Π°ΠΊΠΆΠ΅ Π·Π²ΠΎΠ½ΠΎΠΊ являСтся бСсплатным. Π—Π²ΠΎΠ½ΠΈΡ‚Π΅ ΠΈ ΠΌΠ΅Π½Π΅Π΄ΠΆΠ΅Ρ€ ΠΎΠΊΠ°ΠΆΠ΅Ρ‚ ΠΏΠΎΠΌΠΎΡ‰ΡŒ Π’Π°ΠΌ Π½Π°ΠΉΡ‚ΠΈ Π½ΡƒΠΆΠ½Ρ‹ΠΉ ΠΏΠ°ΠΊΠ΅Ρ‚ ΠΏΠΎ ΠΎΠ±ΡƒΡ‡Π΅Π½ΠΈΡŽ, расскаТСт ΠΎΠ± способах ΠΎΠΏΠ»Π°Ρ‚Ρ‹ ΠΈ сориСнтируСт ΠΏΠΎ прайсу. Наша Ρ„ΠΈΡ€ΠΌΠ° находится ΠΏΠΎ адрСсу: Π³. Π˜Ρ€ΠΊΡƒΡ‚ΡΠΊ, ΡƒΠ». Π‘Ρ‚Π΅ΠΏΠ°Π½Π° Π Π°Π·ΠΈΠ½Π°, Π΄. 6.

    По вопросу стоматология профилактичСская ΠΎΠ±ΡƒΡ‡Π΅Π½ΠΈΠ΅ Π’Ρ‹ Π½Π° ΠΏΡ€Π°Π²ΠΈΠ»ΡŒΠ½ΠΎΠΌ ΠΏΡƒΡ‚ΠΈ. ΠŸΡ€Π΅ΠΈΠΌΡƒΡ‰Π΅ΡΡ‚Π²Π° ΠΎΠ½Π»Π°ΠΉΠ½ обучСния Ρ€Π°ΡΡΠΊΠ°Π·Ρ‹Π²Π°Ρ‚ΡŒ сСйчас Π½Π΅ трСбуСтся. ВсС Π·Π½Π°ΡŽΡ‚ эти прСимущСства ΠΈ всё Ρ‡Π°Ρ‰Π΅ ΠΎΡΡ‚Π°Π½Π°Π²Π»ΠΈΠ²Π°ΡŽΡ‚ΡΡ Π½Π° maps-edu.ru Π·Π° наш ΡƒΡΠΏΠ΅ΡˆΠ½Ρ‹ΠΉ ΠΎΠΏΡ‹Ρ‚. ΠœΠ½ΠΎΠΆΠ΅ΡΡ‚Π²ΠΎ ΠΊΠ²Π°Π»ΠΈΡ„ΠΈΡ†ΠΈΡ€ΠΎΠ²Π°Π½Π½Ρ‹Ρ… ΠΏΡ€Π΅ΠΏΠΎΠ΄Π°Π²Π°Ρ‚Π΅Π»Π΅ΠΉ, Π΄ΠΎΠ²ΠΎΠ»ΡŒΠ½Ρ‹Ρ… ΡƒΡ‡Π΅Π½ΠΈΠΊΠΎΠ², Π΄ΠΎΠ±Ρ€Ρ‹Ρ… ΠΎΡ‚Π·Ρ‹Π²ΠΎΠ² ΠΈ Π½Π΅ Ρ‚ΠΎΠ»ΡŒΠΊΠΎ, Ρ‡Π΅ΠΌ ΠΌΡ‹ ΠΌΠΎΠΆΠ΅ΠΌ ΠΏΠΎΡ…Π²Π°ΡΡ‚Π°Ρ‚ΡŒΡΡ. ΠŸΡ€ΠΈΡ…ΠΎΠ΄ΠΈΡ‚Π΅ ΠΈ Π’Ρ‹ Π·Π° Π½Π΅ΠΎΠ±Ρ…ΠΎΠ΄ΠΈΠΌΡ‹ΠΌΠΈ Π½Π°Π²Ρ‹ΠΊΠ°ΠΌΠΈ.

    Reply
  2. сСрвис ΠΏΡ€ΠΎΡ„ΠΈ омск says:
    9 months ago

    Если Π²Ρ‹ искали Π³Π΄Π΅ ΠΎΡ‚Ρ€Π΅ΠΌΠΎΠ½Ρ‚ΠΈΡ€ΠΎΠ²Π°Ρ‚ΡŒ ΡΠ»ΠΎΠΌΠ°Π½ΡƒΡŽ Ρ‚Π΅Ρ…Π½ΠΈΠΊΡƒ, ΠΎΠ±Ρ€Π°Ρ‚ΠΈΡ‚Π΅ Π²Π½ΠΈΠΌΠ°Π½ΠΈΠ΅ – ΠΏΡ€ΠΎΡ„ΠΈ Ρ€Π΅ΠΌΠΎΠ½Ρ‚

    Reply

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