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☎️ BITCOIN FACES CRUCIAL INDICATORS

☎️ BITCOIN FACES CRUCIAL INDICATORS

Day: 10 | Time: 20:52:36 According to a new report by CryptoQuant, Bitcoin is at a crucial point, with several indicators signaling a possible decline. Despite whale accumulation of BTC, the report reveals that the profit and loss index is nearing its 365-day moving average, which could indicate a significant correction. Additionally, Bitcoin's bull-bear market cycle indicator is nearing a critical level and could transition to a bear market if prices continue to decrease. The report suggests that Bitcoin may be in a phase of forming a local bottom or a significant correction similar to that of the summer of 2021. However, whale accumulation of Bitcoin and institutional support through ETFs may offset downward pressure.

Bitcoin P&L index
Bitcoin bull-bear market indicator
USDT market change vs. BTC price
Total Bitcoin holdings and monthly change
Total spot Bitcoin ETF net flows
BTC/USD daily chart

Source: Cointelegraph