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🟠BITCOIN'S MARKET CYCLE CROSSROADS

🟠BITCOIN'S MARKET CYCLE CROSSROADS

Day: 10 | Time: 18:57:21 The price of Bitcoin is currently at a critical stage in the market cycle, with signals indicating both further declines and a possible turning point. Indicators such as profit and loss are suggesting a potential significant correction or a bear market. Additionally, the lack of growth in Tether's market cap suggests that a rally may be difficult to achieve. However, large Bitcoin holders have been increasing their reserves during the recent downturn. Other bullish factors, such as the approval of an ETF on Ether in the United States and the growth of major stock indices, indicate that 2024 could see further gains despite short-term exhaustion signals.

Bull-bear market cycle indicator (CryptoQuant)