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Analyst: If Bitcoin enters the late stage of a bear market, the downward momentum may slow

MarsBitNews
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Mars Finance news: According to Cointelegraph, Real Vision’s chief crypto analyst Jamie Coutts said that Bitcoin may be entering the late stage of a bear market, with the downward momentum starting to slow. Coutts noted that compared with the previous market cycle, Bitcoin’s volatility has dropped by about 50%, suggesting that the current downturn may not be as severe as past bear markets. However, Coutts also warned that markets rarely follow historical patterns so perfectly. “They basically just follow their own rhythm. Right now, all trend indicators are clearly bearish.” The good side is that some early technical signals suggest that selling pressure is easing. “I’m starting to see bullish divergences in momentum indicators on longer timeframes. This indicates acceleration, or more precisely, that negative momentum is slowing down, but it doesn’t mean that, from a technical perspective, we’ve exited the bear market.”
BTC0.28%
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