The first quarter (Q1) of 2025 – and the initial months of Donald Trump’s second presidency – hasn’t been going as many had hoped. This is well exemplified by the fact that analysts went from setting their Bitcoin (BTC) price targets to $800,000 to wondering if the cryptocurrency bear market has started.
Unfortunately for the bulls, indicators and signals hinting that BTC may be heading for a new ‘crypto winter’ have been piling up in recent trading, per the data compiled by the prominent on-chain analyst Ali Martinez.
Why Bitcoin may be entering a new bear market
Martinez explained that it is increasingly likely that Bitcoin is experiencing a macro trend shift, as indicated by the Inter-Exchange Flow Pulse, the Market Cap to Realized Cap (MVRV) Ratio, and the Market Cycle indicator, per a lengthy X thread, published on March 18.
The market cycle indicator suggests #Bitcoin $BTC is in the midst of a macro trend shift. Watch closely for the next big move! pic
We współpracy z: https://finbold.com/crypto-expert-warns-bitcoin-bear-market-has-started/
