TradingView.com<\/a><\/figcaption><\/figure>\nFeatured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has long been characterized by its cycles of bull and bear markets, each marked by the trajectory of its price movements. However, the crypto appears to be in a transitional phase, according to a CryptoQuant analyst under the pseudonym CryptoHell. CryptoHell has recently shared insights into Bitcoin’s current market cycle, providing investors with key indicators to watch during this period. Related Reading: Is Bitcoin Heading For A Bear Market? Analysts Weigh In On The Price Struggles Understanding The Bitcoin Bull-Bear Transition Phase In a recent post on the CryptoQuant QuickTake platform, CryptoHell revealed that Bitcoin’s bull-bear market cycle indicator from CryptoQuant has been a “reliable tool” for mapping out the crypto’s recurring trends. The analyst explained that the cycle alternates between overbought phases, termed “Overheated Bull,” and oversold phases, referred to as “Extreme Bear.” Adding more context, CryptoHell elaborated: The bull-bear market cycle indicator from CryptoQuant illustrates the recurring cycles of Bitcoin over recent years, highlighting movements between overbought phases (Overheated Bull) and oversold phases (Extreme Bear). Each bull market phase is followed by a bear market, demonstrating how market volatility and sentiment heavily influence Bitcoin’s price. The analyst added that as of 2024, Bitcoin is in a “transitional phase” as it\u00a0shows\u00a0signs of recovery from the previous bear market. However, the analyst stresses that it is unclear whether Bitcoin is poised to enter a full-blown bull market. Is Bearishness Over? Meanwhile, in another QuickTake post, CryptoHell highlighted an interesting point concerning Bitcoin, mentioning that although there appears to still be\u00a0short-term selling pressure in Bitcoin, as data shows, some fundamental indicators present relatively positive signs for the Bitcoin market. For instance, selling pressure from miners and long-term holders remains low, suggesting that these market participants are not contributing significantly to the current volatility. Howvever, sentiment from institutional investors and the broader US market appear weak. This indicates that the overall mood among larger investors is not overly bullish at this stage. CryptoHell highlighted that technical indicators further support the notion of a potential short-term peak. The Stochastic indicator, known for identifying overbought and oversold conditions, points toward an overbought state, hinting at the possibility of a market correction. Related Reading: Bitcoin Price at Risk of Further Downside: Will Bears Tighten Grip? According to the analyst, volatility may continue as the market finds its footing, adding: Investors should remain cautious, as profit-taking and selling pressure are evident from several sources. However, there is still potential for a longer-term bullish trend if selling pressure eases and market sentiment improves. So far, Bitcoin appears to be now seeing a rebound, with its price\u00a0suddenly rising\u00a05.3% in the past day, reclaiming the psychological $60,000 price level. At the time of writing, the asset is approaching the $61,000 mark with a current trading price of $60,905. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":642678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,1119,78790,10923,83531],"class_list":["post-642656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-btc","tag-btcusdt","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\n
Crypto Analyst Reveals Key Insights into Bitcoin Bull-Bear Transition Phase<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n