Bitcoin market update: Navigating the bearish trend
Bitcoin continues to struggle within a sideways range, with each price increase facing selling pressure from investors who bought near the all-time high of 126,000 dollars in October. This cryptocurrency has dropped about 30% since then, showing signs of what Glassnode calls a "mild bearish phase."
Key information:
- The unrealized loss rate has reached its highest level in 2 years at 4.4%.
- Limited capital flow is insufficient to counteract selling pressure.
- Bitcoin's correlation with other risky assets has weakened.
- Volatility is decreasing and may continue to narrow after December 10.
Recent price movements indicate BTC fluctuating around $90,000, with significant trading volume during the dips. While some analysts believe we have entered a bear market, others argue that excessive negative sentiment could lead to a recovery by the end of the year.
The content is for reference and discussion only, not investment advice.
