Analyst: Bitcoin may enter mid-term bear market, with extreme sell-offs becoming more moderate

Odaily Planet Daily reports that CryptoQuant analyst Axel posted on X platform stating that Bitcoin may have entered the mid-stage of this bear market cycle. The NUPL–MVRV harmonic composite indicator has reached 0.33, while historical cycle bottoms typically occur around the 0.5 level. The chart shows that the start of the bear market cycle is trending upward, indicating that extreme selling conditions are moderating. However, the indicator is still well above historical bottom levels, suggesting that a full-scale market sell-off has not yet been confirmed.

BTC-0.31%
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