Recent data indicates that Bitcoin may be entering a bear phase. Analysis by Glassnode points to decreasing momentum in the market.
Bitcoin's Realized Price Outlook
Market data suggests that Bitcoin, in line with its realized price trends, is likely entering a bearish phase. This is related to the 30-day volume-weighted price dropping below its 180-day equivalent.
Market Signals: 'Death Cross'
The concept of a 'Death Cross' describes a scenario in which a short-term moving average drops lower than a long-term moving average. In Bitcoin's case, a similar effect is occurring in the metrics of realized price, indicating financial stress among short-term holders.
Caution in a Cooling Market
Although historical trends do not guarantee future market movements, the 'Death Cross' presents cautionary signals. Market participants should remain vigilant and reassess their risk management strategies in light of decreasing momentum.
In current conditions, it is vital for traders and short-term investors to remain calm as Bitcoin navigates this potential period of weakness.
