A Bitcoin cycle indicator from the analytics firm CryptoQuant suggests BTC has gone through a transition to a bearish phase after the crash.
CryptoQuant’s Bitcoin Bull-Bear Cycle Indicator Now In Negative Territory
In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed the latest development in the “Bull-Bear Market Cycle Indicator” devised by the analytics firm.
This metric is based on CryptoQuant’s P&L Index, which itself is a unification of a few different popular on-chain indicators related to unrealized and realized profit/loss.
The P&L Index basically serves as a way to determine if BTC is in a bear or bull market right now. When the indicator crosses above its 365-day moving average (MA), BTC could be assumed to have entered into a bullish phase. Similarly, a drop under the MA implies a bearish transition.
The Bull-Bear Market Cycle Indicator, the actual metric of focus here, visualizes the P&L Index in a more convenient form
We współpracy z: https://bitcoinist.com/cryptoquants-bitcoin-cycle-indicator-says-btc-bear/
