The Silent Signals Hinting Bitcoin’s Next Bear Market May Start in November
Analysts warn that selling by long-term holders, weak correlation with tech stocks, and technical failures suggest a Bitcoin bear market may begin in November.Summary
Analysts are warning that several subtle market signals suggest Bitcoin could enter a bear market starting in November, despite supportive macroeconomic conditions like government stimulus and Federal Reserve rate cuts. Key concerns include accelerating distribution by long-term holders, which triggered a danger signal on the Coin Days Destroyed (CDD) indicator, coinciding with ETF outflows. Furthermore, Bitcoin's correlation with the Nasdaq-100 is showing negative asymmetry: it falls harder on Nasdaq downturns than it rallies on upturns, a pattern seen before previous bottoms. Finally, Bitcoin failed to bounce from its 50-week moving average, a critical long-term support level that previously preceded significant upside rallies, indicating a potential trend reversal.
(Source：BeInCrypto)