Bitcoin Bear Market Is Starting Now: On-Chain Indicators and Analysis

<p>The podcast discusses a video by <strong>10x Research</strong> that focuses on analyzing the current state of the Bitcoin market, suggesting a potential bear market or deeper correction. The analysis heavily relies on various <strong>on-chain and market indicators</strong> to determine whether Bitcoin&#39;s price movement, trading between <strong>$100,000 and $110,000</strong>, represents a correction, consolidation, or bear market. Key indicators discussed include the <strong>21-week moving average</strong>, the behavior of <strong>long-term holders</strong> (who have been selling large amounts of Bitcoin), and the <strong>market value to realized value (MVRV)</strong> ratio, which indicates that many recent investors are underwater. The overall sentiment is <strong>bearish</strong> as long as Bitcoin trades below the <strong>$113,000 to $110,000</strong> technical level, with the analysis suggesting further downside risk and a focus on capital preservation.</p>