Bitcoin Bear Market May Be Reaching Mid-Term Stage

A recent analysis by CryptoQuant suggests that Bitcoin's current bear market may be entering its mid-term stage. According to this assessment, key indicators are showing signs of recovery, but there is still room for further decline.

The NUPL–MVRV harmonic composite indicator has reached 0.33, which is a level typically seen at the start of a bear market cycle. This indicates that extreme sell-off situations are becoming milder, and the market is starting to move upward from its lows.

However, the indicator is still above historical bottom areas, suggesting that a full-scale sell-off has not yet been confirmed. The analyst's assessment implies that investors should be cautious but not necessarily panic-sell their holdings at this stage.