The broader cryptocurrency market is witnessing one of the largest pullbacks in the cycle, as evidenced by Bitcoin ’s price decline from its current all-time high of $126,000. BTC’s price is now hovering around $83,000. While the ongoing bearish price performance persists, it is now extending into several key metrics, impacting its market dynamics.

A Signal Of Deepening Market Weakness For Bitcoin

Since Bitcoin’s price has been messy, and investors’ sentiment has been worse, its on-chain metrics are starting to exhibit bearish movement, pointing to a highly volatile market environment. One of the key metrics is the Delta Growth Rate, one of the market’s early-cycle momentum gauges, which has recently turned negative.

Alphractal reported this shift in momentum, suggesti

See Full Page