Bitcoin bears give three reasons why the bull market is over

Some market analysts suggest that the Bitcoin bull market may have ended, citing several bearish technical signals. Analyst Jesse Olson pointed to a "bearish MACD crossover" and a "bearish engulfing candle" on the three-week chart, patterns seen at the peaks of the 2017 and 2021 cycles. Declining network activity, evidenced by a 30% drop in daily active addresses in October, also supports the top thesis. Furthermore, trader Mister Crypto noted that 558 days post-2024 halving places Bitcoin near the historical peak window of 518 to 580 days after a halving event. Conversely, other analysts argue the four-year cycle is obsolete, suggesting BTC still has significant upside, with targets like $180,000 remaining possible based on factors like institutional adoption and technical patterns like a "bullish megaphone pattern."

(Source：Cointelegraph)