🚨 Bitcoin has been in a bear market for 9 months, but on-chain signals are starting to flash mixed recovery signs 🚨
Bitcoin has spent roughly nine months in a bear market, and The DeFi Report says the market is showing some early buying signals even though a final bottom may not be fully in place. The analysis points to long-term support levels, profit/loss data, and several macro risks that could still pressure crypto.
🔑 Key highlights:
🔹️ Bitcoin is trading below its 200-week moving average, around $62,400, while price has been fluctuating near $59,000 to $60,000.
🔹️ More than 48% of the circulating Bitcoin supply is currently at a loss.
🔹️ Two key indicators, Realized Market Value and MVRV, have not yet confirmed a final cycle bottom.
🔹️ The analysis flags a possible September interest-rate hike as a macro risk for risk assets.
🔹️ A sharp pullback in Nasdaq or AI-focused tech stocks could also hit crypto.
🔹️ Yen weakness and carry-trade unwind risk are listed as another possible source of liquidity stress.
🎯 Bottom Line: Bitcoin is showing some bottoming signals, but the market still faces macro risks before a full reversal can be confirmed.
https://en.bitcoinsistemi.com/we-ve-been-in-a-bear-market-for-9-months-is-there-light-at-the-end-of-the-tunnel/