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Market about to complete bear cycle, but key reversal level has not been reached yet
While Bitcoin is struggling below $60,000, more
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While Bitcoin is struggling below $60,000, more market participants are watching various metrics for signs of a final crypto market drop in the coming months — or even days. For example, CryptoQuant has, for the first time in a long while, flagged signs that the bear cycle may be nearing its end. Their MVRV indicator for Bitcoin long-term holders fell to 1.24, the lowest level in three years. This metric shows the ratio of the market value of coins held by long-term holders to
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Jakub Novak,
Analytical expert of InstaForex
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Summary
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