CryptoQuant’s Bitcoin Cycle Indicator Says BTC Now In Bear Phase
Summary
CryptoQuant's Bull-Bear Market Cycle Indicator, based on the P&L Index, has transitioned into a bearish phase for Bitcoin. This is the first bear signal since January 2023. However, past instances show that this doesn't necessarily indicate a prolonged bear market. Bitcoin is currently trading at just under $57,000, down almost 14% over the last seven days.
