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Bitcoin On-Chain Signals Suggest Bear Market Entry as Demand Slows

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BTC
$87,553.80-0.07%
On-chain data shows Bitcoin entering a bear market phase as key demand metrics fall below baseline levels. CryptoQuant’s on-chain analysis highlights weakening demand dynamics, with major catalysts like U.S. spot Bitcoin ETFs and macro events losing momentum. ETFs are reducing net positions, and Bitcoin wallet growth has slowed. Perpetual futures funding rates hit multi-year lows, signaling reduced long-term interest. Analysts point to $70,000 as a potential support level, with further declines possible to $56,000.
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