In a post on X on Aug. 6, CryptoQuant head of research, Julio Moreno, reported that the on-chain analytics firm’s ‘Bull-Bear Market Cycle Indicator’ has flagged a bear phase for the first time since January 2023.
While it is true that most altcoins are still in a bear market, Bitcoin currently remains just 22.5% away from its all-time high, which doesn’t sound bearish at all. Analysts appear to be on the fence with regard to bull/bear market conditions.his 148,000 X followers that there was a “25% part of me” that believed BTC did reach the top for this cycle and that a major correction is beginning, which no one has accepted yet.
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