Bitcoin Market Enters Later Stages of Bear Market with Key Price Levels to Watch

The Bitcoin market has been showing signs of a bear market in its later stages, characterized by extreme fear and elevated realized losses.

According to data from CryptoQuant, the Net Unrealized Profit/Loss (NUPL) indicator has dropped below 0.25, placing it in the 'hope/fear zone.' This means that roughly 40% of Bitcoin's circulating supply is held at a loss.

The Fear and Greed Index is currently in the 'Extreme Fear' zone at 15, reflecting pain and uncertainty in the market.