Is the Bear Market Over? Is Bitcoin Preparing for a Bull Market? Bitfinex Analysts Commented!

Due to the banking crisis in the USA, first think and then rise sharply. Bitcoin (BTC) It continues to trade at the $25,000 limit.

Analysts, who think that the FED is stuck due to the banking crisis and will be more careful about interest rates, say they are hopeful for 2023.

Commenting on the current market, according to the news of Coindesk Bitfinex analysts, He said that indicators tracking wallet data show that a long-term uptrend is still ongoing.

Stating that the long-term uptrend continues, analysts pointed to a shorter-term outlook, the last stages of a bear market.

analysts bitcoin commented on the bull and bear market:

“Long-term indicators still show strength in the crypto market. Therefore, with the current retracement, there may be an accumulation period in which higher lows are formed in the last three weeks.

Bitcoin’s net realized profit and loss indicator shows that the market has returned to a regime of significant realized losses.

In this context, it is important to remember that we are still in the final stages of a bear market and not at the beginning of a bull market.

At this point, it’s still too early to say that the market is fully bullish. However, the current increase in net realized losses still pales in comparison to the peaks seen during the Terra (LUNA) or FTX bankruptcy. This is proof that there will be an increase.”

*Not investment advice.

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