The current market condition has raised speculation among market participants about the short-term price trajectory of the asset class. Slowing crypto adoption and a tough macro environment have caused traders to wonder if this is the start of a bear market or just a quiet phase in this bull cycle.analysts noted that the current phase mirrors a trend seen in 2019, where the market cooled down and experienced a prolonged consolidation after a local high before becoming bullish again.
The rankings of crypto apps like Coinbase on mobile devices suggest that fewer people engage with the asset class.
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