Bear-Bull Market Indicator: Don't Panic!

🔍 Julio Moreno from CryptoQuant reported that the 'Bear-Bull Market Cycle' indicator has marked a bear phase for the first time since January 2023. This comes after the market lost about $500 billion in less than a week.

📉 However, there is no need to panic. The indicator has issued bear warnings during previous bull market cycles, but the market still reached new highs.

- Previous bear phases: COVID-19 (March 2020) and China's crypto mining ban (May 2021).

- Bitcoin is currently only 22.5% away from its all-time high, which is not too bearish.

Analysts are still debating the state of the market, but some believe the bull market is still going strong.