Bitcoin Enters Deep Structural Adjustment as On-Chain Signals Hit Bear Market Territory With 32% Drawdown
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
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COINOTAG News reports that a seasoned crypto analyst has blended Bitcoin on-chain metrics, including the NUPL indicator, to reassess the cycle. The synthesis points to a structural adjustment phase, with signals aligned to a prolonged pullback that exceeds typical cycles, underscoring a cautious Bitcoin price analysis mindset.
From current price action, the retracement from the all-time high sits around 32%, placing BTC in an intermediate zone between a deep pullback and a potential bottom. If macro indicators and on-chain data fail to improve, downside risk remains elevated for the cryptocurrency market.
Absent a sustained upgrade in on-chain signals and macro conditions, the recovery could be protracted, requiring a shift in market sentiment reflected in the network’s profit-loss structure. Investors should monitor the interaction of on-chain indicators with macro trends to gauge potential inflection points.