Bitcoin (BTC) continues to lose momentum, as the flagship cryptocurrency fell to $103,528 earlier today amid an increasingly uncertain global macroeconomic outlook. Fresh data from Binance suggests that BTC is currently undergoing a critical transition phase within its price cycle.
Bitcoin Fall Continues – When Will Bloodbath End?
According to a CryptoQuant QuickTake post by contributor Arab Chain, Bitcoin is currently undergoing an important transition phase within its market cycle. The Bitcoin Cycle Phase Score recently entered negative territory, in tandem with a decline in BTC’s price from $124,000 to around $107,000 within 24 hours.
The Cycle Phase Score combines market trend and short-term momentum (Z-Score) to show Bitcoin’s current phase. Positive values indicate upward momentum, while negative values signal short-term weakness or a correction.
The decline in the Cycle Phase Score shows that the BTC market has lost some of its upward momentum that benefited i
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