Bitcoin may have already slipped into a bear market roughly two months ago, according to CryptoQuant’s head of research, Julio Moreno, who points to a cluster of technical and on-chain indicators that turned bearish in early November and have yet to recover.
Key Takeaways:
Speaking on the Milk Road show on Thursday, Moreno said the majority of signals behind CryptoQuant’s bull score index have been flashing warning signs for weeks.
The index, which ranges from 0 to 100, tracks a mix of metrics including network activity, investor profitability, Bitcoin demand, and overall market liquidity.