Is Bitcoin in a bear market or a bull market correction?
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Bitcoin has dropped sharply over the past 30 days, rising from a record 109k to a low of 77k this week, the last level in November last year. This brings the loss to nearly 30%. Many investors are worried about bear markets, usually measured by the recent stock index being 20% higher. However, given the high volatility of cryptocurrencies, the decline in cryptocurrencies does not mean that it has entered a bear market, and crypto pricing is often seen, and deeper sell-offs are still possible. However, in the bull market of Bitcoin, these corrections are very normal. Bitcoin has been corrected several times in previous bull markets before reaching new highs.
Don’t forget that during the Bull Run in the 2021 cycle, Bitcoin lost more than 50% of its value in May, just recovering quickly in the next few months and registering a new record by November.
Additionally, Bitcoin fell 20% from a record 73K in 2024 at the beginning of 2024. The record level was reached shortly after the Bitcoin ETF initiated in January, and a few months later, BTC dropped to 55K at 55K in May.
In this article, we will explore Bitcoin’s recent decline, macroeconomic factors affecting its price, key chain indicators, and levels traders are paying attention to. We will also look at multi-asset brokers who like Primexbt Whether prices rise or fall, it can provide tools and market access to trade Bitcoin volatility.
The weight of macro factors on BTC and risky assets
Bitcoin’s weakness is because the stock market has also experienced a sharp decline, with Nasdaq technology growing bigger, with record-breaking over 10% higher than the correction field record, while the S&P 500 fell 8.5%.
Investors sold out risky assets across the board due to trade tensions against major U.S. trading partners, sparking concerns surrounding the outlook for the U.S. economy. The latest data from forecasting platform Polmoarket allocates a 39% chance of a 2025 U.S. recession, up from 23% at the end of February. In addition, investment banks are also increasing their potential for a downturn in the United States.
Given the close correlation between U.S. stocks and Bitcoin, cryptocurrencies may thrive when stocks are still falling. The macro background needs stability, recession risk retreats, and reduces optimism to increase risk sentiment and risk assets.
On-chain metrics become cautious
On-chain data metrics are also starting to show signs of caution. According to implicit quantities, the Bitcoin bull market cycle indicator is at the least watch level in this cycle. In previous cycles, this level has been adjusted dramatically and, in some cases, an extended slide has begun.
Meanwhile, whales that have traditionally helped support BTC prices have shown signs of slowing down through extensive acquisitions. Spot BTC ETFs have also turned to net sellers, highlighting weak institutional demand and increasing price pressure.
What is the price of Bitcoin bear market?
Although the stock and stock indexes are said to be in a bear market after losing 20% or more at the recent high, this does not work for Bitcoin due to its inherent volatile nature. Instead, the 50 simple moving averages on the weekly chart can be a valuable indicator.
Prices below 50 SMA per week may provide a trigger to trigger a bear market. This dynamic of BTC prices in 2022 and 2018 bear markets is supported below.
50 SMAs per week take up at 75K. If the price sees weekly closures below this level, the bear can control it.
Why trade Bitcoin with PrimeXBT?
Whether Bitcoin is in the deep correction stage or entering a bear market, increased market volatility can also become a source of opportunity. This brings a lot of trading potential when the market goes through major moves.
Primexbtis a globally regulated multi-asset broker that provides a strong all-in-one trading ecosystem that enables users to buy, sell and store cryptocurrencies and trade 100 popular markets. These markets include CFD and CFD for cryptocurrencies, Forex, Index and Commodities using Fiat and crypto funds.
PrimeXBT allows users to stay in the market for a long time (purchase to be open) or briefly (sell) which means you can seize trading opportunities, whether the market is down or rising. PrimeXBT offers some of the best trading conditions with leverage of cryptocurrencies, ultra-low fees, deep liquidity and tight spreads.
To help traders navigate Bitcoin’s volatility, PrimeXBT offers advanced tools including volume-powered charts, risk management features such as stop loss and profitability, and a seamless trading interface designed for beginners and professionals. In addition, traders can benefit from exclusive rewards and bonuses, weekly trading competitions, and recommendation programs from the Senior Committee.
Start trading Primexbt
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