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Bitcoin bear market may need months of boring consolidation
CoinDesk·
Bitcoin's bear market may require several more months of sideways trading before reaching a true bottom, according to analysis of long-term holder trends. While price drops are painful, 'time pain' – characterized by slow, range-bound conditions – can exhaust investors. Long-term holders currently control about 80% of the supply, approaching historical bear market bottom levels of 85%. This suggests a potential floor is forming, but past cycles indicate a prolonged period of consolidation is likely before a sustained recovery begins, testing the patience of both bulls and bears.
Tickers
$BTC-USD
Tags
fintech
crypto
macro
Original Source
CoinDesk — coindesk.com