Bitcoin’s latest price dip is not a full bear market signal… yet – Here’s why
Bitcoin's recent price decline to around $87,263 reflects short-term market fear and a lack of sustained buyer demand, but it does not yet signal a full transition to a bear market. Key on-chain metrics suggest a potential local bottom is forming. The supply in profit remains at 71%, below the 75% threshold needed to indicate strong holder conviction. The MVRV Z-score of 1.12 shows moderate bullish sentiment without triggering mass sell-offs, while the SOPR staying below 1 points to investor fatigue and soft capitulation. Macroeconomic developments in coming months could influence this outlook, but current data does not confirm a bear market.
ambcrypto01/23 21:02
